Whenever any firms in a concentrated industry merge, the four firm concentration ratio:
a. will rise
b. may rise or stay the same.
c. may rise or fall.
d. will fall.
b
Economics
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If a price decrease results in your expenditure on a good decreasing, your demand must be
A) inelastic. B) unit. C) elastic. D) linear.
Economics
"An increase in the federal minimum wage will provide a living wage for the working poor" is:
a. a statement of positive economics. b. a fallacy of composition. c. a tautology. d. a statement of normative economics.
Economics