The Herfindahl-Hirschman Index is the sum of the
A. Market shares of the top four firms in the market.
B. Squared concentration ratios for the firms in the market.
C. Squared market shares of the firms in the market.
D. Market shares of all the firms in the market.
Answer: C
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If a bank receives an additional deposit of $50,000 and the desired reserve ratio is 20 percent, what is the amount of new loans the bank can make?
What will be an ideal response?
Refer to Table 2-15. Which of the following statements is true?
A) Jack has a comparative advantage in lawn mowing and George in garden cultivating. B) Jack has a comparative advantage in garden cultivating and George in lawn mowing. C) George has a comparative advantage in both tasks. D) Jack has a comparative advantage in both tasks.
A monopolistically competitive firm chooses its
a. price and quantity just as a monopoly does. b. quantity but faces a horizontal demand curve just as a competitive firm does. c. price but can sell any quantity at the market price just as an oligopoly does. d. price and quantity based on the decisions of the other firms in the industry just as an oligopoly does.
According to the mathematical laws that govern the relationship between average total cost and marginal cost, where must these two curves intersect?