A low concentration ratio suggests
A) a high degree of monopolization.
B) a high degree of competition.
C) that wages are a low share of costs.
D) that wages are a high share of costs.
B
Economics
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The 2007 subprime crisis spread easily because
A) the United States is an important economy. B) banks in other countries had purchased assets that depended on the U.S. housing market. C) there was speculation against the U.S. dollar. D) the Fed failed to act at the right time.
Economics
Unlike a perfectly competitive firm, a monopolistically competitive firm
a. faces a perfectly inelastic demand curve. b. can earn positive economic profit in the short run and in the long run. c. cannot earn positive economic profit even in the short run. d. has a negatively sloped demand curve.
Economics