Which of the following statements is generally true?
A) Rivalry is less the larger the number of firms in an industry.
B) The smaller the number of firms in an industry, the greater the rivalry.
C) The degree of rivalry in an industry is largely independent of the number of firms.
D) The larger the number of firms in an industry, the greater the rivalry.
D
Economics
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When banks fail during a financial crisis, ________
A) the removal of these weak institutions serves to strengthen the financial system B) the elimination of competitors is likely to spark a credit boom C) there is a loss of information that can cause the crisis to worsen D) surviving banks resort to financial engineering to retain customers
Economics
In the above figure, what is total profit at the profit-maximizing point?
A) $14 B) $56 C) $42 D) $70
Economics