The four largest firms account for approximately 90% of U.S. beer sales. The U.S. beer industry would be best classified as a(n)

A. monopoly.
B. monopolistically competitive industry.
C. perfectly competitive industry.
D. oligopoly.

Answer: D

Economics

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The EEC is a group of

a. South American countries b. Eastern European countries c. Asian countries d. Middle Eastern countries e. Western European countries

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Which of the following is one of the basic reasons why economists often appear to give conflicting advice to policymakers?

a. similar opinions about the validity of economic theories b. significant differences in education c. differences in personal values d. a reliance on normative statement for research theories

Economics