The government uses market share figures contained in the ________to help determine whether or not it will challenge a proposed merger.
A. antitrust prohibition ratio
B. Herfindahl-Hirschman Index
C. concentration ratio
D. Cellar-Kefauver Index
Answer: B
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Refer to the table above. What is the market demand for wine when the price is $3?
A) 50 units B) 35 units C) 66 units D) 28 units
Inflation that is ________ than what is expected benefits ________ and hurts ________
A) greater; lenders; no one B) greater; lenders; borrowers C) less; lenders; borrowers D) less; borrowers; lenders
When deciding on output levels, members of a cartel
A) set their output where MR = MC. B) produce the same level of output as if they were in a competitive market. C) take into account the impact of changes on members' profits. D) act as if they were monopolies.
Monopolistic competition resembles pure competition because:
A. both industries emphasize nonprice competition. B. in both instances firms will operate at the minimum point on their long-run average total cost curves. C. both industries entail the production of differentiated products. D. barriers to entry are either weak or nonexistent.