Some economists believe that high concentration within industries is _________, and we should __________
a. c, d, and e
b. terrible; deregulate the industries
c. beneficial; encourage it
d. inevitable; learn to live with it
e. not inevitable; break up monopolies
A
Economics
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When managers of firms in a competitive market observe falling profits, they may infer that the market is experiencing
a. a violation of conventional market forces. b. over-investment. c. the entry of new firms. d. too few firms in the market.
Economics
Figure 7-7
In Figure 7-7 at 100 units, FC equals
a.
1,000.
b.
1,800.
c.
800.
d.
80.
Economics