If Happy Campers, Campers R Us, and Happy Trails each have a market share of 22 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm because the total market share across the three firms is ________ percent.
A) would; 66 B) would; 22 C) would not; 66 D) would not; 22
C) would not; 66
You might also like to view...
Buffalo in the United States almost became extinct while cattle have never been close to extinction. The difference is due to
A) the greater marginal value of a buffalo relative to a head of cattle, leading to greater "harvesting" of buffalo. B) the use of private property rights on cattle and common property rights on buffalo. C) the greater marginal value of a head of cattle relative to buffalo, leading to over-hunting of buffalo. D) the differences in size between the two animals, and the effect of size differences on the costs of hunting them.
Which of the following professionals is likely to receive higher compensatory wages?
a. Financial accountants b. Software engineers c. Sales workers d. Share traders e. Tailors
If marginal cost is above average cost, average cost must be rising.
Answer the following statement true (T) or false (F)
At Phil's Pretzel Stand, we found the following: 4 laborers produced 66 pretzels 5 laborers produced 76 pretzels 6 laborers produced 85 pretzels 7 laborers produced 88 pretzels What was the marginal physical product of the seventh laborer?
A) 10 pretzels B) 9 pretzels C) 3 pretzels D) none of the above due to insufficient information