Even though the market for bricks has a low concentration ratio nationally, the U.S. Justice Department might still scrutinize any mergers in this industry because the
A) HHI is high nationally.
B) HHI is above 1800 nationally.
C) HHI is below 1800 nationally.
D) market is regional not national, and the regional concentration might be high.
D
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Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
A) a straight, upward-sloping line. B) a straight, downward-sloping line. C) a horizontal line. D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.
The slowdown in the growth of real wages in the United States since 1973 is consistent with a concurrent:
A. slowdown in productivity gains. B. slowdown in the growth of the working age population. C. speedup in the rate of inflation. D. slowdown in immigration into the country.