How are monopolistic ally competitive industries identified with concentration ratios?
What will be an ideal response?
The percentage of output produced by firms in a manufacturing industry would be an empirical measure that could be used to judge whether an industry is monopolistic ally competitive. If the top four or eight firms account for less than a quarter of industry output, then it would be a low-concentrated industry. Even the top twenty firms might only account for about half of the total output in the industry. These data would indicate that there are many producers in the industry, each only producing a small percentage of the total output typical of monopolistic competition.
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A conversion of checking account balances into savings account balances would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. decrease; not change.
Due to a scarcity of resources,
a. governments should decide what should be produced b. the government must decide how to allocate available resources c. some members of each society must live in poverty d. every society must choose among competing uses of available resources e. resource availability exceeds the possible uses for available resources