An industry which has a 4-firm concentration ratio near 100 would best be described as
A. oligopoly, or a monopoly, depending on the size of the biggest firm.
B. a monopoly.
C. perfect competition.
D. monopolistic competition.
Answer: A
You might also like to view...
What happens to the demand for loanable funds curve when the economy enters a recession?
A) The demand for loanable funds curve shifts leftward because wealth decreases. B) The demand for loanable funds curve shifts leftward because expected profit falls. C) The demand for loanable funds curve shifts leftward because the real interest rate falls. D) The demand for loanable funds curve shifts rightward because the real interest rate falls. E) The demand for loanable funds curve shifts rightward because expected profit falls.
The excess burden of taxation will _____ when the demand curve is more elastic
a. not change b. be higher c. be lower d. be zero
Suppose that when the price of milk rises 10%, the quantity demanded of milk falls 2%. Based on this information, what is the approximate absolute price elasticity of demand for milk?
A) 5.0 B) 0.2 C) 0.5 D) 2.0
The aggregate supply curve is horizontal in the intermediate range
a. True b. False Indicate whether the statement is true or false