The four-firm concentration ratio
A) indicates the total profitability among the top four firms in an industry.
B) is an indicator of the degree of monopolistic competition.
C) indicates the presence and intensity of an oligopoly market.
D) is used by the government as a basis for anti-trust cases.
C
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When XYZ Corporation produces 35 units of output its average variable cost is $5 . The marginal cost of the 36th unit of output is $7 . If the firm chooses to produce the 36th unit of output, what will happen to average variable cost? Explain
What will be an ideal response?
Suppose the value of price elasticity of demand for goods manufactured by firms A, B, C, and D are 0, -0.8, -1, and -1.5 respectively. The demand for the good will be elastic for:
a. firms A, B, C, and D. b. firms B, C, and D. c. only firm A. d. firms C and D only. e. only firm D.