Suppose that a particular industry has a four-firm concentration ratio of 85. Most likely, this industry would achieve: Group of answer choices neither productive efficiency nor allocative efficiency. allocative efficiency but not productive efficiency. productive efficiency but not allocative efficiency. both productive efficiency and allocative efficiency. PreviousNext

The goal of an economist who formulates new theories is to a. provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works. b. provoke stimulating debate in scientific journals. c. contribute to an understanding of how the world works. d. demonstrate that economists, like other scientists, can formulate testable theories.