Which government agency publishes four-firm concentration ratios?
A) the Economic Council B) the U.S. Bureau of the Census
C) the Federal Reserve System D) the Treasury Department
Question 2
Refer to Figure 10-2. Which of the following statements is true?
A) Points a and b may not necessarily be the utility-maximizing quantities of ice cream cones at two different prices because we have no information on the consumer's budget or the price of other goods.
B) Points a and b are derived independently of the utility-maximizing model.
C) Points a and b are the utility-maximizing quantities of ice cream cones at two different prices of ice cream.
D) Point a could be a utility-maximizing choice if the price is 3 but point b may not be because we have no information on the marginal utility per dollar when price changes.
