If a firm experiences economies of scale, the average total cost of production increases as output expands

When the economy slows down and national income falls, the government will have ________ tax revenue to fund programs

A) about the same B) a rapid increase in C) more D) less

If an industry is dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues with the remaining two firms each representing 5%, what would be the four firm concentration ratio and the Herfindahl-Hirschman Index for this industry?

a. 95%; 2,725 b. 95%; 2,750 c. 70%; 9,975 d. 70% 10,000