Productivity growth rates in the United States have remained fairly constant from 1948 to 2000.

Because we cannot observe or measure utility

A) the predictions of marginal utility theory cannot be verified. B) marginal utility theory is incomplete and so its predictions might not be valid. C) marginal utility theory must be derived from assumptions about demand curves because demand curves can be measured. D) None of the above answers are correct.

Suppose that a particular industry has a four-firm concentration ratio of 85 and a Herfindahl index of 3,000. Most likely, this industry would achieve:

A. both productive efficiency and allocative efficiency. B. allocative efficiency but not productive efficiency. C. neither productive efficiency nor allocative efficiency. D. productive efficiency but not allocative efficiency.