As a general rule of thumb, industries with a Herfindahl index below ________ are considered to be competitive, while those above ________ are considered noncompetitive.
A. 1,800, 1,000
B. 1,000, 1,800
C. 1,000, 3,000
D. 1,800, 3,000
Answer: B
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Which of the following is not included in Nation A's financial account?
a. Foreign deposits of funds in savings accounts in Nation A. b. Foreign companies' profits on their operations in Nation A. c. Foreign purchases of Nation A's Treasury bills. d. All the above.
Why is defining a market difficult?
a. Government regulations about the exchange of goods and services are complex. b. The conditions under which buyers and sellers exchange goods and services can vary. c. Scholars cannot agree on a standard definition. d. Urban and rural areas have different ways of exchanging goods.
Capital
A. comes from savings. B. can be built up by holding down consumption. C. is one of four economic resources. D. All of the choices are true about capital.
In the long run, all firms in a perfectly competitive industry
A) earn economic profits. B) break even. C) suffer economic losses. D) sell differentiated products to earn economic profits.