Which industry has the highest four-firm concentration ratio?
A) college bookstores B) retail gasoline stations
C) cigarettes D) discount department stores
C
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In the above figure, the short-run aggregate supply curve is SAS1. Suppose that the price level in the economy increases. As a result there is
A) an upward movement along SAS1. B) a downward movement along SAS1. C) a shift to SAS0. D) a shift to SAS2.
For a monopoly, marginal revenue for all units greater than 1:
A. is always less than the price. B. cannot be negative. C. is zero when total profits are maximized. D. is always greater than marginal cost.
If a government imposes high enough tariffs, one result will be that
A. markets will become more globalized. B. consumers will benefit from lower prices. C. domestic producers will face no foreign competition. D. foreign producers will be able to sell more goods.
The "shadow heuristic" is all of the following, except:
A. When the brain assumes that light always fall from above B. What makes us interpret two-dimensional shaded circles as three-dimensional bumps or holes C. What allows us to measure the height of a tall structure by analyzing its shadow D. When we sometimes mistakenly interpret the contours of a picture of a ball or a box