If the market share of the largest firm in an industry is 40 percent, then theoretically, the highest possible Herfindahl-Hirschman Index for this industry would be
A. 1,600.
B. 3,600.
C. 4,000.
D. 6,400.
B. 3,600.
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The figure above shows Clara's demand for CDs. If the price for a CD is $15, then Clara
A) receives no consumer surplus on the 6th CD she buys. B) receives a total of $10 of consumer surplus. C) will buy no CDs. D) receives a total of $40 of consumer surplus.
Suppose the United States exports cars to France and imports cheese from Switzerland. This situation suggests that
a. the United States has a comparative advantage relative to Switzerland in producing cheese, and France has a comparative advantage relative to the United States in producing cars. b. the United States has a comparative advantage relative to France in producing cars, and Switzerland has a comparative advantage relative to the United States in producing cheese. c. the United States has an absolute advantage relative to Switzerland in producing cheese, and France has an absolute advantage relative to the United States in producing cars. d. the United States has an absolute advantage relative to France in producing cars, and Switzerland has an absolute advantage relative to the United States in producing cheese.
A taxpayer pays __________ tax rate on additional income if the income tax structure is progressive, __________ tax rate on additional income if the income tax structure is proportional, and __________ tax rate on additional income if the income tax structure is regressive
A) a higher; a lower; the same B) a higher; the same; a lower C) a lower; a higher; the same D) the same; a lower; a higher E) the same; a higher; a lower
Refer to the data. The price elasticity of demand is unity:
Answer the question on the basis of the following demand schedule:
A. throughout the entire price range because the slope of the demand curve is constant.
B. in the $4-$3 price range only.
C. over the entire $3-$1 price range.
D. over the entire $6-$4 price range.