Which of the following statements is not true?
a. Oligopolies usually have few firms each with some significant degree of market power
b. Only a small percentage of industries have four-firm concentration ratios above 85 percent.
c. Market price is related to the concentration ratio.
d. The United States is becoming more oligopolistic.
e. Karl Marx believed the United States was becoming more oligopolistic.
D
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John raises bees to pollinate his orchard. A couple of bees which escaped ended up pollinating his neighbor's orchard, so
A) John's neighbor has received an internal cost of John's bee-keeping. B) John's neighbor has received an external cost of John's bee-keeping. C) John's neighbor has received an external benefit of John's bee-keeping. D) None of the above is correct.
An expected tax increase will tend to cause
A) an increase in stock prices. B) a reduction in stock prices. C) no change in stock prices. D) an ambiguous effect on stock prices.