If an industry were perfectly competitive, the four-firm concentration ratio would be close to ________ and the Herfindahl-Hirschman index would be close to ________
A) 0; 0
B) 0; 100
C) 100; 0.
D) 100; 100.
A
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Real interest rates were negative during most of the
A) 1960s. B) 1970s. C) 1980s. D) 1990s.
Examples of strategic behavior include
A) kinked demand and linear demand. B) prisoner's dilemma and interdependence. C) kinked demand and economic profit D) prisoner's dilemma and kinked demand.
Which of the following describes the vicious circle of poverty?
a. Because resources are limited, all economies eventually become poor. b. In the long run, economies cycle between being rich and being poor.c. For an economy to grow requires more consumption goods, which requires less capital goods, which means it will eventually become poor d. Due to excessive consumption, rich economies will destroy their resource base and eventually become poor. e. Poor economies are poor because they do not produce sufficient capital goods, and without the production of sufficient capital goods, they remain poor.
Profit is maximized at the rate of output where marginal revenue exceeds marginal cost by the greatest amount
Indicate whether the statement is true or false