Ans: D) the industry has an oligopoly.
The higher the concentration ratio is in an industry, the more likely it is that
A) the industry is perfectly competitive.
B) the market share of the smallest four firms is larger.
C) the market share of the largest four firms is smaller.
D) the industry has an oligopoly.
Economics
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If the multiplier in the economy is 3, the marginal propensity to save (MPS) must be
A) 3. B) 0.67. C) 0.33. D) 1.
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The elasticity of demand is constant along a downward sloping straight-line demand curve
Indicate whether the statement is true or false
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When the value of a currency is determined ________, the exchange rate system is defined as a floating exchange rate system
A) by its issuing government, with occasional readjustments in value B) only by supply and demand C) by its issuing government D) mostly by supply and demand, but with occasional government intervention
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Since the demand curve is downward sloping, the graph of total profits is also has a negative slope.
Answer the following statement true (T) or false (F)
Economics