The percentage of U.S. industrial sales produced in industries with four-firm sales concentration ratios of 50 percent or more has remained pretty much unchanged from 1895 through 1982
Indicate whether the statement is true or false
T
Economics
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Answer the following questions true (T) or false (F)
1. To maximize profit, a monopolist will produce and sell a quantity such that for the last unit sold, marginal revenue equals marginal cost, and charges a price given by the demand curve at that output level. 2. A monopolist's demand curve is the same as the marginal revenue curve for the product. 3. If a monopolist's price is $50 at the output where marginal revenue equals marginal cost and average total cost is $43, then the incremental profit from the last unit sold is $7.
Economics
Moral hazard encourages people to take risks.
Answer the following statement true (T) or false (F)
Economics