Suppose That the Demand in a Particular Industry Is Given

question 10

Multiple Choice

Suppose that the demand in a particular industry is given by Q^d = 100 - 2P.When the market price in the industry is $10 per unit, total demand in the industry is ____.Furthermore, assume that each of the four largest firms in the industry sell 15 units.Based on this information, the 4-firm concentration ratio is

• A)demand is 80 units and the 4-firm concentration ratio is 1.00.
• B)demand is 45 units and the 4-firm concentration ratio is 0.75.
• C)demand is 80 units and the 4-firm concentration ratio is 0.75.
• D)demand is 45 units and the 4-firm concentration ratio is 0.25.

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Definitions:

Employee Rights

The legal entitlements concerning the workplace that employees are guaranteed by law, including the right to fair wages, safe working conditions, and freedom from discrimination and harassment.

Open Shop Movement

A movement aimed at ensuring that employment is not conditional upon union membership, allowing workers the choice to join a union or not.

Well-Meaning Workers

Refers to employees who have good intentions and aim to perform their duties ethically and proficiently, contributing positively to their work environment.

IWW

The Industrial Workers of the World, an international labor union founded in 1905, advocating for worker solidarity and the abolition of the wage system.