These are the shares of the seven firms in Macland’s sweater industry. Sally’s Sweaters: 36%, Jack’s Sweaters: 24%, Mira’s Sweaters: 2%, Nils’ Sweaters: 8%, Hans’ Sweaters: 3%, Pedro’s Sweaters: 7%, Jules’ Sweaters 20%. What is the HH index?
a. 88
b. 7,744
c. 2,398
d. 10,000
c. 2,398
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Some firms require consumers to pay an initial fee for the right to buy their product and an additional fee for each unit of the product they purchase. This practice is referred to as
A) dual pricing. B) odd pricing. C) a two-part tariff. D) intertemporal pricing.
Regardless of quantity in long-run equilibrium, the industry price cannot exceed the
A. long-run average cost of supplying that quantity. B. total variable cost of supplying that quantity. C. long-run total cost of supplying that quantity. D. minimum long-run marginal cost of supplying that quantity.
The actual rate of unemployment will generally
What will be an ideal response?
The Employment Act of 1946 reflects which one of the following functions of government?
A. correcting externalities B. providing public goods C. improving economy-wide stabilization D. providing a legal system