The Herfindahl index is calculated by:
A. adding the percentage of industry output produced by the largest four firms.
B. multiplying the squared value of the market shares of all the firms in the industry.
C. adding the percentage of industry output produced by the largest eight firms.
D. adding the squared value of the market shares of all the firms in the industry.
Answer: D
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Refer to the scenario above. The nominal GDP of the country for Year 2 was ________
A) $180,000 B) $174,000 C) $1,920,000 D) $2,510,000
The debt-GDP ratio
A) fell sharply after 1997 due to a high output ratio and higher income tax rates. B) rose from 1981-1992 due to large budget deficits. C) began to decline in 1993. D) all of the above.
A sales tax is an example of an excise tax
Indicate whether the statement is true or false
Marginal productivity analysis shows that a drop in the price of the product will cause input use to
A. increase. B. decrease. C. stay the same. D. The information is insufficient to provide an answer.