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Author Question: An industry is deemed concentrated when ________. A) each firm in that industry has a small ... (Read 92 times)

FButt

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on: Jun 29, 2018
An industry is deemed concentrated when ________.
 
  A) each firm in that industry has a small market share
  B) all the firms in that industry charge a price lower than the average cost of production
  C) most of the firms in that industry earn zero economic profits in the long run
  D) a few firms account for a large fraction of total sales in that industry

Question 2

Why are Federal Reserve Notes (U.S. dollar bills) money in the U.S? Because
 
  A) they are backed by gold.
  B) they are used as a general medium of exchange.
  C) they are created by the government.
  D) they would otherwise be useless.
  E) of all the above reasons.


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jxjsniuniu

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


FButt

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Reply 2 on: Jun 29, 2018
Gracias!

Zebsrer

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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