Consider an industry that is made up of six firms with the following market shares: Firm A - 50%, Firm B - 20%, Firms C and D - 10% each, and Firms E and F - 5% each
What is the value of the Herfindahl-Hirschman Index and how will the industry be categorized?
A) 2,500; mildly concentrated B) 3,150; highly concentrated
C) 8,100; highly concentrated D) 10,000; effectively competitive
B
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The table below describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls PerHourNumber ofTelephonesPer HourNumber ofWorkersPer Hour0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225If the price of a telephone increases to from $5 to $10 an hour and nothing else changes, then:
A. total cost would not change. B. marginal cost would not change. C. fixed cost could not change. D. marginal cost would increase by $5 at every level of output.
According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
A rightward shift of aggregate demand will raise output only if
A) wages remain unchanged. B) wages rise by a lower percentage than prices. C) wages rise by the same percentage as prices. D) wages rise by a greater percentage than prices.
If the price is $60 per unit, what is the break even amount of units for technology A?
a. 50 b. 100 c. 150 d. None-They would have to shut down