Which of the following industries has the lowest concentration ratio?
a. breakfast cereal
b. electric lamp bulbs
c. household laundry equipment
d. cigarettes
b
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You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state. Based on this observation, you suspect that:
A. the wage for teachers in that district is lower than the equilibrium wage. B. the demand for teachers in the inner-city school district is too low. C. there is an excess supply of teachers in other districts. D. the wage for teachers in that district is higher than the wage in other districts.
In the above figure, x is
A) positively related to y and negatively related to z. B) positively related to both y and z. C) negatively related to y and positively related to z. D) negatively related to both y and z.
In a problem involving exchange, the contract curve shows
A) all exchanges that make both parties better off. B) the one exchange that makes both parties better off. C) all possible allocations of goods between both parties. D) all possible efficient allocations between both parties.
What is the total profit to the monopolist from selling the goods separately?
a. $4,500 b. $6,300 c. $7,000 d. $6,200