The table above shows the revenue figures for the top four firms along with a total for the remaining firms in the fast-food industry. What is the four-firm concentration ratio for the industry?
A) 200
B) 20 percent
C) 25 percent
D) 80 percent
E) 100 percent
B
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Which of the following is an example of government purchases?
A. The navy purchases a new ship for its fleet. B. Fred buys a new television set to watch the Super Bowl. C. Electric Car Incorporated increases the number of cars on its lots. D. The Black Coal Company sells $5 million of coal to Germany.
Between 1950 and 2004, standards of living in the OECD countries
A) did not change at all. B) were converging. C) all increased at the same rate. D) decreased at the same rate. E) decreased, but at different rates.
Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price, then what will be Mega's economic profit?
A. $150 B. $100 C. $50 D. $0
If the market demand for paper remains the same as in Problem 6, calculate the market price, market output, and the economic profit or loss of each firm
What will be an ideal response?