Because of the shortcomings of concentration ratios, some economists prefer another measure of competition called
A) the Herfindahl-Hirschman Index. B) the Economic Profit Index.
C) the Competition Index. D) the Marginal Revenue-Marginal Cost Index.
A
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The main sources of cost-push inflation are increases in
A) the money wage rate and the price of raw materials. B) the real wage rate and the price of raw materials. C) the money wage rate and aggregate demand. D) the quantity of money and the real wage rate. E) government expenditure and the quantity of money.
A community college charges lower tuition fees to town residents than to nonresidents. This pricing strategy increases the profits of the community college. Using this information, we can conclude that nonresidents must have a _____ demand for attending the community college than residents.
a. less price-elastic b. greater c. more price-elastic d. lower
When the supply of blueberries increases while the demand for blueberries also increases, the equilibrium ________ of blueberries will definitely ________, ceteris paribus.
A. price; increase B. price; decrease C. quantity; increase D. quantity; decrease
Government payments made to ________ firms in order to encourage ________ are called subsidies.
A. foreign; immigration B. domestic; imports C. foreign; imports D. domestic; exports