There are four firms in the cement industry in Richland. Firm A has a market share of 30%, Firm B has a market share of 20%, Firm C has a market share of 25%, and Firm D has a market share of 25%
The Herfindahl-Hirschman Index for the cement industry is ________. A) 50
B) 100
C) 2,550
D) 4,000
C
You might also like to view...
Globalization is positively associated with
A) declining standards of living. B) economic growth. C) poverty. D) declining rates of investment.
In the case of a negative externality, the government can use a ________________ to turn an inefficient outcome into an efficient one. In the case of a positive externality, the government can use a ________________ to turn an inefficient outcome into an efficient one.
A. tax; subsidy B. subsidy; tax C. tax; tax D. subsidy; subsidy
Rent Control
Read William Tucker's article on rent control (published by the Cato Institute). Questions: What was the original intent behind rent control? Why did voters in Boston decide to eliminate rent control? The author argues that rents are higher in cities in which rent control exists than in cities without rent control. Does this necessarily suggest that rent control raises the rental rate for housing? Is there another possible interpretation? Use a diagram containing demand and supply curves to illustrate the effects of rent control on the quantity of housing demanded and supplied. Briefly describe the "shadow market" for housing existing in New York City. How might the existence of this market account for the large difference between median gross rent and median advertised rent
Over the entire period since 1950, average labor productivity in the United States has ________ although between 1973 and 1995 the rate of change ________.
A. decreased; slowed B. increased; slowed C. decreased; accelerated D. increased; accelerated