Rapid growth of government spending in Latin America in the 1970s led to

Suppose the four-firm concentration ratio for an industry is 10 percent. This value indicates ________. If the four-firm concentration ratio for another industry is 95 percent, this value indicates ________

A) the industry is competitive; the industry has very little competition B) the industry has very little competition; the industry is very competitive C) the industry has firms worldwide; the industry is concentrated in one country D) the HHI will be high; the HHI will be low

Because cooperation dominates noncooperation as a strategy for maximizing profits, cheating is rarely if ever an issue that cartels have to contend with

Indicate whether the statement is true or false