What would the Herfindahl-Hirschman Index equal for an industry consisting of six firms with market shares of 5 percent, 10 percent, 15 percent, 20 percent, 25 percent, and 25 percent?
A. 100
B. 1,350
C. 1,375
D. 2,000
Answer: D
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Based on the figure above, the aggregate demand curve will shift from AD0 to AD2 when
A) potential GDP increases. B) the price level falls. C) taxes are lowered. D) government expenditure increases. E) the Federal Reserve raises the interest rate.
Which of the following parties is likely to have the most information about the health of an individual who is trying to purchase a health insurance policy?
A) the employer of the individual who is trying to purchase the health insurance policy B) the individual who is applying for the health insurance policy C) the company that issues the health insurance policy D) All parties in the health insurance market have access to the same level of information.
Economists argue that:
a. accounting costs consider all types of costs including implicit costs b. there is an opportunity cost associated with all decisions. c. economic decisions do not have opportunity costs but other decisions do. d. economic decisions should consider sunk costs
The financial crisis that began in late 2007 ended which era?
A. The Great Recovery B. The Golden era C. The Great Moderation D. The Great Recession