Refer to the data. The four-firm concentration ratio for the industry is:
A. 100 percent.
B. indeterminate since we don't know which four firms are included.
C. 80 percent.
D. 20 percent.
C. 80 percent.
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Countries without well-developed financial systems are able to sustain high levels of economic growth
Indicate whether the statement is true or false
The case where people purposely act in a careless way, for example, driving recklessly because they are insured, is called
A) asymmetric information. B) risk aversion. C) moral hazard. D) bounded rationality. E) thrill-seeking.
A pure monopoly
a. is the only firm that produces all of the products its competitors produce b. is the single seller of a unique product c. is bigger than all its competitors combined d. has only one customer e. is always profitable in the short run
Other things the same, if a country raises its saving rate, when is productivity growth higher?
a. as the economy moves toward the long run and in the long run. b. as the economy moves toward the long run, but not in the long run. c. in the long run, but not as the economy moves toward the long run. d. neither as the economy moves toward the long run, nor in the long run.