Even if production of a good is characterized by economies of scale, consumers of the good would be best served by having a large number of small firms produce the good because of the effects of increased competition

In the table above, the market is in equilibrium. Then a minimum wage is set at $11 per hour. The number of unemployed workers will be

A) 0. B) 2 million. C) 4 million. D) 6 million.

The above table shows the percent of sales held by the four largest firms in an industry

a) Calculate this industry's four-firm concentration ratio. b) Is this industry competitive? c) What market type does it most likely represent?