Concentration Ratios Tend to Overstate the Power of Some Corporations

question 102

Multiple Choice

Concentration ratios tend to overstate the power of some corporations to influence economic outcomes because they measure output

• A) For single firms rather than markets.
• B) For the whole United States, which is too large a geographic market for some firms or industries.
• C) Only for domestic production when the true market boundaries are international for some markets.
• D) Over many industries rather than a single market.

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Definitions:

Equitable Remedy

A judicial order enforcing a party to act or refrain from acting in a certain way, distinct from awarding damages.

Material And Willful

Refers to an action done intentionally and with a solid understanding of its consequences, often used in legal contexts to describe behavior.

Status Quo

The existing state of affairs or current condition, typically used in context with agreements or legal situations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, even though no contract exists between the parties.