The Herfindahl index would be 5000 if the only two firms in an industry have equal market shares
a. True
b. False
A
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A monopoly sells 5 units of output at $20. If the MR of the 6th unit is $14, then the price of the 6th unit is
A) also $14. B) $17. C) greater than $20. D) $19.
Perfectly competitive markets are not the most efficient type.
Answer the following statement true (T) or false (F)
Jack has an MPC of 0.82 and Jill has an MPC of 0.78. Ceteris paribus, if the government transfers income from people who behave like Jack to people who behave like Jill,
A. Aggregate demand will increase. B. Aggregate demand will decrease. C. It is not possible to predict what will happen to aggregate demand. D. Aggregate demand will remain the same.
Adult population 200 million labor force 150 million employed persons 138.75 million Discouraged workers 10.5 million According to the accompanying labor data, the unemployment rate is
What will be an ideal response?