In the above table, what is the four-firm concentration ratio for the Gadgets industry?

Last year in a small economy, consumption spending was $12,000, investment spending was $3,500, government spending was $4, 000, exports were $1,150, and imports were $1,350. What was GDP for this economy last year?

What will be an ideal response?

Which of the following is an outcome of advertising for a monopolistically competitive firm? a. Long-run average costs shift downward

b. The firm's demand curve becomes flatter and shifts inward. c. The firm's demand curve keeps the same slope and shifts inward. d. Long-run average costs shift upward.