New airplanes, which normally consume less fuel per passenger-mile, become less efficient for commercial airlines to purchase and use as
A) average flight distances lengthen.
B) fewer non-stop flights are scheduled.
C) fuel prices fall.
D) the demand for airline travel increases.
E) the price of new airplanes falls.
C
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Current offers to purchase or sell scarce goods take account of the wants of future generations
A) if government intervenes to give the future a current voice. B) if people are able to predict future prices. C) only if people are concerned for the welfare of others yet unborn. D) only rarely because people are predominantly selfish.
Assume the four-firm concentration ratio in industry X is 75 percent and that the firms in the industry produce a differentiated product. Industry X most likely would be characterized as:
A) perfectly competitive. B) a monopoly. C) monopolistically competitive. D) an oligopoly.