Goods are ________ when the income elasticity of demand is less than zero

The larger the four-firm concentration ratio, the ________ competition within an industry; the larger the Herfindahl-Hirschman Index, the ________ competition within an industry

A) more; more B) more; less C) less; more D) less; less E) The premise of the question is wrong because the four-firm concentration ratio applies only to markets with four firms in it and these markets are, by definition, not competitive.

Gary's wealth is $1 million. Economists would say that Gary has $1 million worth of money

a. True b. False Indicate whether the statement is true or false