The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____.
A. 1,000; 2,500
B. 100; 9,000
C. 50; 500
D. 500; 1,300
Answer: A
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The income effect for an inferior good
A) is negative. B) is zero. C) is positive. D) could be negative, zero, or positive.
Describe how Mexico's development strategy changed from the 1950s to today and how that changed the production location decisions of firms
What will be an ideal response?
Data on world reserves of minerals, gathered by Blackman and Baumol, show that between 1950 and 2000 . production of most minerals
a. greatly exceeded the reserves available in 1950. b. declined as depletion occurred. c. greatly reduced the reserves available in 2000. d. was limited to a fraction of the reserves available in 1950.
In which statement(s) is "supply" used correctly? (I) "An increase in the price of eggs will increase the supply of eggs." (II) "As the cost of producing eggs rises, the supply of eggs will tend to fall."
a. in both statements I and II b. in statement I only c. in statement II only d. in neither statements I nor II