If the four-firm concentration ratio for the market for pizza is 28 percent, then this industry is best characterized as
A) a monopoly.
B) monopolistic competition.
C) an oligopoly.
D) perfect competition.
E) oligopolistic competition.
B
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Suppose the official unemployment rate is 10 percent. We can conclude without question that
a. the same 10 percent of the people in the economy were out of work for the entire year b. one of every ten people in the labor force is currently unemployed c. the same 10 percent of the people in the labor force were out of work for the entire year d. every person in the labor force was out of work for 10 percent of the year e. 10 percent of the people in the economy were each out of work for 10 percent of the year
Refer to the table. If the price of each input is $5, the per-unit cost of production in the economy is:
Answer the question on the basis of the following information about the relationship between input quantities and real domestic output in a hypothetical economy:
A. $5.
B. $2.75.
C. $2.50.
D. $.40.