Calculate the APS.
APS = $8,000/$35,000 = .23
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Suppose there are 7 firms in the candy industry with the market shares shown above. What is the HHI for the industry?
A) 1850 B) 2000 C) 6400 D) 100 E) 20
A firm wishes to shut down an office and fire 100 employees. The company will save $3000 per month per employee. It is estimated that each employee contributes $4,100 to the company. The firm rents office space for this group of employees at $1500 . What should the company do?
a. Fire the employees and save $1500 on rent b. Not fire the employees keeping them generates a profit of $1100 per employee c. Not fire the employees since keeping them generates a profit of $1085 per employee d. None of the above
Steve buys Pepsi at $.60 per can and orange juice at $1.20 per can. In consumer equilibrium,
a. orange juice would yield a higher marginal utility per dollar spent than Pepsi would b. he will consume twice as much Pepsi as orange juice c. he will consume more orange juice than Pepsi d. total utility from orange juice is twice that from Pepsi e. his last can of orange juice would generate a higher marginal utility than his last can of Pepsi
Economists assume simply that tastes are given and are relatively stable
Indicate whether the statement is true or false