23 which industry has the highest four firm

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23) Which industry has the highest four-firm concentration ratio?A) cigarettesB) retail gasoline stationsC) college bookstoresD) discount department storesAnswer: A23)Diff: 1Page Ref: 461/461
Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB:6
24) Which government agency publishes four-firm concentration ratios?24)Diff: 1Page Ref: 460/460
Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking25) The profit-maximizing level of output and the profit-maximizing price for an oligopolist cannotbe calculated when we donʹt knowC) what the concentration ratio for the oligopolistʹs industry is.25)
D) the type of barrier to entry that exists in the oligopolistʹs industry.Answer: ADiff: 2Page Ref: 460/460Topic: Characteristics of OligopolyLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking26) Because of the shortcomings of concentration ratios, some economists prefer another measure ofcompetition calledC) the Marginal Revenue-Marginal Cost Index.26)
D) the Herfindahl-Hirschman Index.Answer: DDiff: 1Page Ref: 461/461Topic: Concentration RatioLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking27) Ocean Spray is considered to be an oligopoly firm because, until the 1990s, it faced littlecompetition in the market for fresh and frozen cranberries. Why?A) The federal government imposed a high tariff on cranberry imports. During the 1990s thetariff was eliminated, but Ocean Spray still controls about 80 percent of the cranberry market.B) Ocean Spray had a patent on the production of cranberries that gave the company the27)
exclusive right to market its product for 20 years. The 20-year period ended in the 1990s.C) Until the 1990s, Ocean Spray controlled almost the entire supply of cranberries.D) Ocean Spray was able to achieve significant economies of scale in the production ofcranberries. Beginning in the 1990s, other firms finally achieved economies of scale as well,but Ocean Spray still controls about 80 percent of the cranberry market.Answer: CDiff: 3Page Ref: 462/462Topic: Barriers to EntryLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB:7
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Oligopoly, AACSB, Page Ref, Collusion

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