An economist is told that concentration in the cement industry has increased.He can safely conclude that
A)cement production must have fallen in the industry.
B)competition in the cement industry has decreased.
C)there are fewer cement producers than before.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Concentration in the industry means there are fewer participants (producers) in the market, which leads to decreased competition. It doesn't necessarily mean that production has fallen.

An Economist Is Told That Concentration in the Cement Industry