Suppose prices for new homes have risen, yet sales of new homes have also risen. We can conclude that:
a. the demand for new homes has risen.
b. the law of demand has been violated.
c. new firms have entered the construction industry.
d. construction firms must be facing higher costs.
a
Economics
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If the four-firm concentration ratio for the market for pizza is 28 percent, then this industry is best characterized as
A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) oligopolistic competition.
Economics
The main purpose of antitrust law is to
A) prohibit monopoly practices such as restricting output. B) regulate advertising. C) encourage the formation of cartels. D) regulate the stock and bond markets.
Economics