These are the shares of the seven firms in Macland’s sweater industry. Sally’s Sweaters: 26%, Jack’s Sweaters: 12%, Mira’s Sweaters: 2%, Nils’ Sweaters: 8%, Hans’ Sweaters: 3%, Pedro’s Sweaters: 7%, Jules’ Sweaters 2%. What is the four-firm concentration ratio?

When a monopolistically competitive firm breaks even in the long run, this is equivalent to earning a zero accounting profit

Indicate whether the statement is true or false

Total spending by all levels of government in the United States in 2012 amounted to roughly ________ per person

A) $20,000 B) $2,000 C) $200,000 D) $200