Concentration ratios measure the:
A. geographic location of the largest corporations in each industry.
B. degree to which product price exceeds marginal cost in various industries.
C. percentage of total industry sales accounted for by the largest firms in the industry.
D. number of firms in an industry.
Answer: C
Economics
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The Friedman rule works because
A) it maximizes productivity. B) it eliminates over-consumption. C) it encourages people to hold the appropriate quantity of money. D) it can be implemented by the private sector.
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If a principle is reducing agency costs by gathering information about the agent's type, he is most likely trying to solve the problem
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
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