Industry Y is dominated by five large firms that hold market shares of 20, 25, 15, 10, and 25 percent. The four-firm concentration ratio for this industry is:
A. 70 percent
B. 80 percent
C. 85 percent
D. 90 percent
C. 85 percent
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Which of the following do economists consider to be capital?
A. a pair of stockings B. a share of IBM stock C. a construction crane D. a savings account
Under what circumstances might it be more effective for people experiencing a negative externality to file a class-action lawsuit than attempt to resolve the problem through bargaining?
What will be an ideal response?
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Larry's opportunity cost of selling a truck is selling:
A. 2 cars. B. 1 car. C. 10 cars. D. 1/2 of a car.
Increases in capital per hour worked cannot sustain high rates of economic growth unless accompanied by technological change
Indicate whether the statement is true or false