Quiz_138 - 12 ,thefour- A 5 B 20 C 80 D 100 12 Answer C...

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Principles of Economics
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Chapter 17 / Exercise 6
Principles of Economics
Mankiw
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12) If an industry is made up of five identical firms, the four-firm concentration ratio isA) 5%.B) 20%.C) 80%.D) 100%.Answer: C
12)
Diff: 2Page Ref: 460/460Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Analytic Skills13) The value of the four-firm concentration ratio that many economists consider indicative of theexistence of an oligopoly in a particular industry is
13)
Diff: 1Page Ref: 460/460Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking14) Which of the following isnota shortcoming of the concentration ratio as a measure of the extent ofcompetition in an industry?
14)
Diff: 2Page Ref: 460/460Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking15) TheʺDiscount Department Storesʺindustry is highly concentrated. What does this mean?
15)
Diff: 2Page Ref: 460/460Topic: Concentration Ratio
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Principles of Economics
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Chapter 17 / Exercise 6
Principles of Economics
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