The Discount Department Stores industry is highly concentrated. ...

[Arii_bell]

The Discount Department Stores industry is highly concentrated. What does this mean?
 
  A) The sales volume in this industry is consistently high.
  B) There are many large stores such as Wal-Mart, Target, Kohl's, in this industry.
  C) A few large stores account for a significant portion of industry sales.
  D) There is cut-throat competition in this industry because there are no entry barriers.

Question 2

Refer to Figure 12-1. If the firm is producing 700 units, what is the amount of its profit or loss?
 
  A) profit equivalent to the area A
  B) loss equivalent to the area A
  C) loss of 280
  D) There is insufficient information to answer the question.

[johnharpe]

Answer to Question 1

C

Answer to Question 2

D

[Arii_bell]

Great answer, keep it coming

[nathang24]

Thanks for the timely response, appreciate it