Suppose that an industry contains 4 firms with the following market shares: 50%, 25%, 15%, 10%. What is the value of the Herfindahl-Hirschman Index for this industry?

What will be an ideal response?


3,450

Economics

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A) vertical; infinite B) vertical; 0 C) horizontal; 1 D) horizontal; 0 E) a straight, upward sloping line through the origin; 0

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Trade between countries that is without restrictions is called

A) unencumbered trade. B) unabated trade. C) free trade. D) unobstructed commerce.

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A firm’s price is

A. greater than average revenue. B. greater than marginal revenue. C. less than marginal cost. D. equal to average revenue.

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A firm's profit can be calculated by subtracting its total revenue from its total costs

a. True b. False Indicate whether the statement is true or false

Economics