An market in which the Herfindahl-Hirschman Index (HHI) is 2,500 is considered to be
A) an oligopoly.
B) monopolistically competitive.
C) a monopoly.
D) perfectly competitive.
A
You might also like to view...
The demand for steak is _______________________ than is the demand for food because _____________________.
A. less price elastic; the scope of the market for steak is more broadly defined B. more price elastic; the scope of the market for steak is more broadly defined C. less price elastic; the scope of the market for steak is less broadly defined D. more price elastic; the scope of the market for steak is less broadly defined
Suppose a McDonalds Big Mac costs $4.40 in the United States and 3.30 euros in the euro area and 5.72 Australian dollars in Australia. If exchange rates are .75 euros per dollar and 1.3 Australian dollars per dollar, where does purchasing-power parity hold?
a. both the euro area and Australia b. the euro area but not Australia c. Australia but not the euro area d. neither the euro area nor Australia
Use the above table. If firms 3 and 4 merge, the four-firm concentration ratio will
A. increase from 60 percent to 75 percent. B. decrease from 75 percent to 60 percent. C. increase from 75 percent to 80 percent. D. not change.
If actual inflation differs from expected inflation, what is the slope of the aggregate supply curve?
A. The slope is horizontal in the short and long run. B. The slope is vertical in the short and long run. C. The slope is vertical in the short run and upward sloping in the long run. D. The slope is upward sloping in the short run and vertical in the long run.