For Each of the Following Four Sentences,determine Whether the Terminology

question 146

Essay

For each of the following four sentences,determine whether the terminology of the supply and demand model is used correctly.
(A)"Pizza prices increased; therefore,the demand for pizza went down."
(B)"The demand for pizza increased; therefore,the price went up."
(C)"Pizza prices fell,decreasing the supply of pizza."
(D)"The supply of pizza increased; therefore,pizza prices declined."

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Definitions:

Four-Firm Concentration Ratio

A measure of market concentration, calculated as the percentage of total market sales accounted for by the four largest firms in an industry.

Four-Firm Concentration Ratio

The four-firm concentration ratio is a measure of market concentration, calculated by the combined market share of the four largest firms within an industry, indicating the level of competition.

Herfindahl Index

A measure of market concentration used to evaluate the level of competition within an industry.

Market Shares

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales.