The Herfindahl-Hirshman Index is measured by taking ______ for each firm’s ______ summed over the firms in the industry.
a. the cube; share of market sales
b. the square; total average costs
c. the cube; total average costs
d. the square; share of market sales
d. the square; share of market sales
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For profit-maximizing monopolies, explain why the boundaries on the Lerner Index are 0 and 1
What will be an ideal response?
The U.S. provides about _____ percent of the annual membership fees of IMF member countries
a. 5.6 b. 10.2 c. 15.3 d. 17.3 e. 22.4
For which of the following commodities are consumers usually willing to pay a premium to save time?
a. Microwave oven b. A new production facility c. Stocks of a company d. Residential property
Most recessions and depressions
a. are accurately forecasted. b. usually occur with ample advance warning. c. cause falling unemployment. d. occur with little advance warning.