-Using Concentration Ratios,which Is the More Concentrated Industry?
A)Industry X

question 115

Multiple Choice

$~~~~~{ \text { Industry } \mathbf { X } } ~~~~~~~~~~~~~ { \text { Industry } \mathbf { Y } } \\\begin{array} { c c c c } & \text { Market }& & { \text { Market } } \\\text { Firm } &\text { Share } & \text { Firm } & \text { Share } \\1 & .40 & 1 & .30 \\2 & .20 & 2 & .30 \\3 & .10 & 3 & .30 \\4 & .10 & 4 & .05 \\5 & .10 & 5 & .03 \\6 & .10 & 6 & .02\end{array}$
-Using concentration ratios,which is the more concentrated industry?

• A)Industry X with a concentration ratio of 80.
• B)Industry Y with a concentration ratio of 95.
• C)Both industries have the same concentration ratio of 100.
• D)There is no way to determine which industry has the higher concentration ratio.

Understand statutory law and its relation to U.S. labor law.

Recognize the role of the National Labor Relations Board and its structure.

Grasp the legal framework established by the Wagner Act (NLRA) for labor-management relations.

Identify how U.S. labor law addresses employer interference in union activities.

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Definitions:

Market Type

A classification that describes the nature and characteristics of a market, based on its competition level, participants, and structure.

Improved Product

A product that has been enhanced in terms of quality, features, or performance compared to its previous versions.

Obsolete

Refers to products, technologies, or methods that are no longer used because newer ones have replaced them.

Highly Valued

Regarded with great importance, significance, or appreciation by individuals or society.