If you have found the percentage of the value of total revenue accounted for by the four largest firms in an industry, you have found the
A) elasticity of demand value.
B) elasticity of supply value.
C) Herfindahl-Hirschman Index.
D) four-firm concentration ratio.
E) monopolistic concentration index.
D
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A consumer cannot gain consumer’s surplus if she purchases more than one unit of a good.
Answer the following statement true (T) or false (F)
The nominal interest rate equals the real interest rate ________ the inflation rate
A) plus B) times C) minus D) divided by
One of the weaknesses in pursuing the objective of profit maximization is that it ignores
A) the timing of cash flows. B) the time-value of money concept. C) the riskiness of cash flows. D) All of the above
The "rule of 70" is a simple rule
a. (70 divided by the growth rate) that approximates the number of years it will take for income to double at various growth rates. b. (70 multiplied by the growth rate) that approximates the number of years it will take for income to double at various growth rates. c. (70 divided by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP. d. (70 multiplied by the percentage of population over age 70) that can be used to approximate a nation's growth of real GDP.