Which statement is false? Cigarettes, motor vehicles, and pipelines are industri
ID: 1225321 • Letter: W
Question
Which statement is false? Cigarettes, motor vehicles, and pipelines are industries with high concentration ratios. Oligopolized industries have higher concentration ratios than monopolistic competitors. The Electric Machinery Conspiracy case involved covert collusion. None of these statements are false. The demand curve facing an oligopoly will be less elastic the larger its share of the market and the more differentiated the product. the smaller its share of the market and the more differentiated the product. the larger its share of the market and the less differentiated the product. the smaller its share of the market and the less differentiated the product. The closer the industry concentration ratio is to 100, the more likely it is that there are a reasonably large number of medium-sized firms. this is an industry approaching perfect competition. there is a small number of large firms. price competition is being practiced. Using the above schedules, the highest Herfindahl-Hirschman Index is in Industry X. is in Industry Y. is in Industry Z. cannot be determined. Using the above schedules, which statement is true? Industry X is more concentrated than Industry Y. Industry X is more concentrated than Industry Z. Industry Z is more concentrated than Industry X. Industries X, Y, and Z have the same concentration ratio.Explanation / Answer
(6) (D)
(7) (A)
(8) (C)
Close to 100 concentration ratio indicates small number of very large firms.
(9) & (10) - Data tables appearing hazy, cannot properly read all numbers. Re-post with better quality images.
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