The above table shows the market shares for all the landscaping services in a suburban area. The Herfindahl-Hirschman Index (HHI) equals
A) 65.
B) 900.
C) 1400.
D) 1600.
D
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Refer to the figure below. Assume demand remains unchanged at D1. If supply shifts from S1 to S2, then the equilibrium price will ________ and the equilibrium quantity will ________. 
A. fall; fall B. fall; rise C. rise; fall D. rise; rise
Because collective action problems are ________ to solve, society often ________
A) relatively easy; handles the problems itself B) relatively easy; ignores the problems C) impossible; chooses to live with the problems D) difficult; requests help from the government
During 2005-2006 Europe imported more than $70 million worth of U.S. long-grain rice. Who gains from this trade?
A) European rice consumers gain from trade. B) There is no gain from trade. C) European rice producers gain from trade. D) American rice consumers gain from trade.
Torrie is thinking of starting up a small business selling hand-painted wine glasses. She is considering setting up her business as a sole proprietorship. What is one advantage to Torrie of setting up her business as a sole proprietorship?
A) As a sole proprietor, Torrie would have the ability to share risk with shareholders. B) As a sole proprietor, Torrie would face limited liability. C) As a sole proprietor, Torrie would have both ownership and control over the business. D) All of the above would be advantages of setting up her business as a sole proprietorship.