concentration ratio
Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry
This profit-maximizing competitive firm's total cost as TC=TFC+TVC, as in demonstrated figure can be calculated as area: (i) 0P3fq4. (ii) P2P1de. (iii) P3P2ef. (iv) 0P<
Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be
Properties of indifference curves: The 3 properties of indifference curves are as shown below:A) Slopes downward from left to right: To consume more of onegood the consumer should give up li
Select the right ans wer of the question. Critics of minimum-wage legislation argue that it: A) keeps inefficient producers in business. B) reduces employment.C) undermines incentives to work. D) is deflationary.
Describe the causes of Increase in demand?Answer: 1) Increase in income of the consumer.2) Price of substitute goods increase.3)
Give me the answer of this question. The most important determinant of consumer spending is: A) the level of household debt. B) consumer expectations. C) the stock of wealth. D) the level of income.
Since philosophers are hardworking and intelligent individuals who should acquire substantial human capital and advanced degrees to work like philosophers, in that case the shaded area B represents: (1) pure profit. (2) consumer surplus. (3) interest
See a monopolist which cannot price discriminate but that maximizes profit. When this firm produces the level of output where is average cost at its minimum that will charge a price: (i) equal to marginal cost and generate zero economic profit. (ii) e
When firms have market power although do not price discriminate perfectly, in that case the market equilibrium will be inefficient since: (w) P = AC = MC. (x) total revenue equals total costs [TR = TC]. (y) MSB = P > MC = MSC. (z)
By 2000, the differential among the rich and the poor which can be attributed to economic discrimination was computed at: (w) approximately 60 percent. (x) approximately 30 percent. (y) under 10 percent. (z) zero.
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