Suppose there is a market in which the firms hold the following market shares: 25%, 20%, 18%, 15%, 8%, 7%, 4%, 2%, 1%. What is the concentration ratio for this market?

Market spreads usually range from ___ on large contracts to ___ on small contracts.

a. 3%; 0.5% b. 10%; 2% c. 1%; 2% d. 0.01%; 5%

In the production possibilities frontier depicted in the figure above, which of the following combinations of hats and bananas is unattainable?

A) 4 million pounds of bananas and 4 million hats B) 2 million pounds of bananas and 5 million hats C) 0 pounds of bananas and 6 million hats D) 1 million pounds of bananas and 3 million hats