Which of the following industries is likely to have the highest concentration ratio?

Assume that there were decreasing opportunity costs of production in an island economy that only produced two goods. What would the shape of the production possibilities frontier look like and why?

What will be an ideal response?

Two taxes that have consumption as a tax base are ____ taxes and _____ taxes

a. income; general sales b. general sales; valued-added c. excise; income d. estate; retail sales