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erastova [34]
3 years ago
5

Concentration ratios measure the Group of answer choices geographic location of the largest corporations in each industry. degre

e to which product price exceeds marginal cost in various industries. percentage of total industry sales accounted for by the largest firms in the industry. number of firms in an industry.
Business
1 answer:
nika2105 [10]3 years ago
3 0

Answer:

percentage of total industry sales accounted for by the largest firms in the industry.

Explanation:

The concentration ratio calculated the market share percentage for an industry and the same is held by the larger firms inside the industry. Also it determined the total output that could be generated from the number of firms in the industry

Therefore as per the given options, the above options should be considered correct

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The minimum wage is increased from $7.25 to $9.00 per hour. Calculate the elasticity of demand for fast food workers over the re
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Answer:

As the question was not complete. I have attached the complete question in the attachment. Please refer to attachment.

Explanation:

<em>By using, LD = 95- 3w and w1 = 7.25 and w2 = 9. We get, </em>

<em>LD1 = 95-3(7.25) = 73.25 </em>

<em>LD2 = 95-3(9) = 68 </em>

Elasticity = Change in labor demand/ change in wage rate = ((68- 73.25)/ 73.25)/ ((9-7.25/7.25)) = -0.33

The 11 percent change in the wage rate causes, 33% change in labor demanded, as shown by the elasticity, the labor demand decreases with increase in wage rate.

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false

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