The Lower the Concentration Ratio, the

question 535

Multiple Choice

The lower the concentration ratio, the

• A)more control an individual firm has to set prices.
• B)more competitive the industry.
• C)less competitive the industry.
• D)Both a and c are correct.

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Definitions:

Government

The organization, or group of individuals and institutions, that has the authority to make and enforce laws and decisions for a specific community, region, or country.

Private Goods

Goods that are characteristically excludable and rivalrous, meaning their use is limited to paying customers and one person's consumption prevents another's.

Public

The general population or community at large, often the recipient of information, services, or goods provided by governments or organizations.

External

Pertaining to or located outside of an entity or organization, often relating to the external environment, influences, or factors.