Which of the following has the highest Herfindahl-Hirschman index?
A) monopoly
B) monopolistic competition
C) oligopoly
D) any of the above, depending on the size of firm sales
A
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Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences
A. a producer surplus of $9 and Nathan experiences a consumer surplus of $3. B. a producer surplus of $9 and Nathan experiences a producer surplus of $12. C. a consumer surplus of $9 and Nathan experiences a producer surplus of $3. D. a consumer surplus of $12 and Nathan experiences a producer surplus of $3.
If Nike, an American corporation, produces sneakers in Thailand this would
A) count as part of U.S. GDP since it is a U.S. corporation. B) count for both Thailand's GDP and U.S. GDP. C) add to Thailand's GDP but not to U.S. GDP. D) add to neither U.S. GDP nor Thailand's GDP.
Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. Which of the following would be a fixed cost in a hospital?
A) an MRI machine B) bandages C) nurses D) syringes
Why is a government franchise likely to serve as a stronger barrier to entry than possessing technology than competitors don't currently posses?
What will be an ideal response?