________ Is Gaining a Reputation as a Manufacturing Center as Well

question 74

Multiple Choice

________ is gaining a reputation as a manufacturing center as well as the world's number one producer of flat-screen TV sets.

• A)Mexico
• B)Canada
• C)Brazil
• D)Panama
• E)Argentina

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Definitions:

Cournot Model

An economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide upon independently of each other and at the same time.

Prevail

To be widespread or dominant, or to win against opposing forces.

Concentration Ratio

A measure used in economics to assess the extent of market control held by the largest firms within an industry.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.