The largest value the Herfindahl index can have is
a. 100, which would indicate a monopoly
b. 100 for firms equal in size
c. 100,000
d. 10,000 . which would indicate a pure monopoly
e. infinity
D
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Two firms are creating apps with their profits in the payoff matrix below: Firm B? $.99 app$1.99 appFirm A$.99 app($1m, $1m)($100k, $5m)?$1.99 app($6m, $120k)($250k, $250k)Without collusion, what will each firm decide to sell their app for?
A. Firm B sells the app for $.99 while Firm A sells the app for $1.99 B. Both firms will sell the app for $.99 C. Both firms will sell the app for $1.99 D. Firm A sells the app for $.99 while Firm B sells the app for $1.99
When the price of beer goes up, our model of tastes would typically require tastes to change.
Answer the following statement true (T) or false (F)
If prices rise on average in the U.S. economy, the purchasing power of a dollar declines
Indicate whether the statement is true or false
A manager invests $400,00 . in a technology to reduce overall costs of production. The company managed to reduce their cost per unit from $2 to $1.85 . This affects
a. Economic profits b. Accounting profits c. Both a and b d. None of the above