The CORRECT ranking of the four basic market structures from low (Herfindahl-Hirschaman Index) HHI to high HHI is
A) perfect competition, oligopoly, monopolistic competition, monopoly.
B) monopoly, oligopoly, monopolistic competition, perfect competition.
C) perfect competition, monopolistic competition, oligopoly, monopoly.
D) monopoly, monopolistic competition, oligopoly, perfect competition.
C
You might also like to view...
According to the quantity theory of money, changes in the price level are the result of changes in the
A) prime interest rate. B) real interest rate. C) quantity of money. D) velocity of circulation.
If Japanese workers are more productive than French workers then trade between Japan and France
A) cannot take place because Japanese goods and services will be less expensive than French goods and services. B) can take place only if France has an absolute advantage in producing a good or service Japanese buyers want. C) will take place so long as each country has a comparative advantage in a good or service that buyers in the other country want. D) cannot take place until French workers become more productive.
Other things equal, an adverse supply shock would
a. Shift SRAS left b. Shift LRAS left c. Shift AD left d. Do all of the above
According to the law of comparative advantage,
a. individuals and nations gain when they specialize in producing those goods they consume. b. individuals and nations gain when they specialize in producing goods they can produce at a high opportunity cost and can exchange for other desired goods they can produce cheaply. c. individuals and nations gain when they specialize in producing those items for which they are the low opportunity cost producers and exchange for other desired goods they can't produce as cheaply. d. all of the above are true.