The tool that economists use to analyze the mutual interdependence of oligopolies is
A) economies of scale.
B) the four-firm concentration ratio.
C) game theory.
D) the HHI.
E) the efficient scale.
C
Economics
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Compare a property rights system in which people are allowed to keep one-third of the monetary rewards of their labor with a system in which they keep two-thirds. We should expect harder work under the __________ system and less risk taking under the __________ system
A) former; former B) former; latter C) latter; former D) latter; latter
Economics
If the quantity demanded of a product is the same for each possible price, demand is
A) unit-elastic. B) elastic. C) perfectly elastic. D) perfectly inelastic.
Economics