A Low Concentration Ratio Suggests

question 20

Multiple Choice

A low concentration ratio suggests

• A) a high degree of monopolization.
• B) a high degree of competition.
• C) that wages are a low share of costs.
• D) that wages are a high share of costs.

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Definitions:

Opportunity Cost

The financial sacrifice involved in overlooking the closest alternative when a choice is made or one option is favored over another.

San Francisco

A major city in California, USA, known for its iconic Golden Gate Bridge, steep streets, and vibrant cultural history.

City Manager

An official appointed as the administrative manager of a city, in a council-manager form of city government.

City Council

The legislative body that governs a city, town, municipality, or local government area.