If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%.
B. 2.89%.
C. 28.95%.
D. 0.35%.
Answer: A
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Two firms, Industrio and Capitalista, have access to five production processes, each of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the table below. Both firms currently use process A, and each emits 4 tons of smoke per day. The government is considering two plans to reduce pollution: requiring both firms to reduce pollution by 25 percent or auctioning pollution permits. Each permit would entitle the owner to emit one ton of smoke per day. Without a permit, no smoke can be emitted. Process(smoke/day) A(4 tons/day) B(3 tons/day) C(2 tons/day) D(1 ton/day) E(0 tons/day) Cost to Industrio ($/day) $350$400$500$700$1,000 Cost to Capitalista
($/day) $225$250$290$400 $600Given that both firms are currently using process A, the cost of requiring the firms to reduce pollution by 25 percent is ________ per day. A. $790 B. $375 C. $215 D. $75
When competing firms set prices with attention to the prices set by their competitors, the demand curve faced by each firm
A) becomes indeterminate. B) becomes less elastic. C) becomes more elastic. D) shifts toward the northeast. E) shifts toward the southwest.
One of the interesting findings of a survey of firm managers by Blinder et al. is that:
A) the vast majority of firms pay considerable attention to marginal costs in making decisions about how much output to produce. B) the majority of respondents suggested that fixed costs are a relatively unimportant consideration when making output decisions. C) approximately 75 percent of respondents indicated that their marginal costs of production are rising over the relevant range of output. D) a significant percentage of respondents to the survey did not appear to understand the concept of marginal cost.
A bond buyer is a
a. saver. Bond buyers must hold their bonds until maturity. b. saver. Bond buyers may sell their bonds prior to maturity. c. borrower. Bond buyers must hold their bonds until maturity. d. borrower. Bond buyers may sell their bonds prior to maturity.