An industry with Herfindahl-Hershman Index of 4,000 would best be described as
A. perfect competition.
B. monopoly.
C. monopolistic competition.
D. oligopoly.
Answer: D
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An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
If future benefits are underestimated by a firm,
A. the firm will invest too little in capital. B. the firm will only sell bonds to invest in capital. C. the firm will use only retained earnings to invest in capital. D. the firm will invest too much in capital.
Which of the following is not a characteristic of a public good?
A. Nonrivalry in consumption. B. Available to nonbuyers C. Can be consumed only once D. Nonexclusivity
Why do workers exert more effort when they are paid higher salaries?
What will be an ideal response?