There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A) Nothing, because their shares are already included in the concentration calculation.
B) The industry's concentration ratio will fall.
C) The industry's concentration ratio will increase.
D) It is impossible to know without more information.
Answer: C
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Monopoly profits lead to technological process by
A) increasing the amount of human capital in the economy. B) firms lobbying Congress for protection of their monopolies. C) carefully investing deadweight loss. D) encouraging the development of innovations by firms attempting to break a monopoly.
Inflation
What will be an ideal response?
How could Lee be guilty of job-entry discrimination?
a. by paying women less for doing the same job as men b. by intentionally not interviewing white people c. by requiring men to work more overtime hours than women d. by offering incentives to minorities to apply there
Refer to the table below . Which product is most responsive to a change in income?
A. Product W
B. Product X
C. Product Y
D. Product Z