Unlike the steel industry, the automobile industry
(a) became more concentrated.
(b) became less concentrated.
(c) remained the same in terms of concentration.
(d) constantly fluctuated in terms of concentration.
(b)
Economics
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Suppose that you open your own business and earn an accounting profit of $35,000 per year. When you started your business, you left a job that paid you a $30,000 salary annually. Also, suppose that you invested $70,000 of your own funds to start up your
business. If the normal rate of return on capital is 10 percent, your economic profit is A) $5,000. B) -$5,000. C) $2,000. D) -$2,000.
Economics
An oligopoly is a market in which at least some firms are large enough to influence market price.
Answer the following statement true (T) or false (F)
Economics