The four-firm concentration ratio is the percentage of ________ accounted for by the four largest firms in an industry
A) profit
B) supply
C) total revenue
D) total cost
E) marginal cost
C
Economics
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What is the relationship between the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced?
What will be an ideal response?
Economics
The law of increasing additional cost exists because
A) resources are not perfectly adaptable to both production processes. B) the demand for the product increases. C) the cost of resources of the products increase. D) the cost of resources of the products decrease.
Economics