The ________ the Herfindahl-Hirschman Index, the ________
A) lower; more concentrated the industry
B) higher; more concentrated the industry
C) higher; less concentrated the industry
D) lower; higher the profits earned in the industry
B
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Suppose that real GDP starts at 200 and grows at a rate of 9 percent per year for two years. In the third year real GDP would be
A) 183.49. B) 236. C) 237.62. D) 239.24.
Refer to the information provided in Figure 6.3 below to answer the question(s) that follow.
Figure 6.3Refer to Figure 6.3. Molly?s budget constraint is AD. It would swivel to AB if the price of
A. CDs increased. B. DVDs decreased. C. DVDs increased. D. CDs decreased.
Refer to the table below. Recall that the bidders only know their own private value of the item and they do not know the other participants' private values. Further, assume each participant will submit bids using their optimal strategy. If the participants are bidding in a sealed-bid second-price auction, Bidder ________ wins the auction and pays ________.
The table above lists the independent private values of five participants in an auction. Each of the bidders only knows their own value and does not know the private values of the other participants.
A) #3; $9.5 million
B) #3; $10 million
C) #3; $9 million
D) #5; $9.5 million
Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits b. Managers of profit centers are not given any discretion in their decision making c. Profit centers usually require the highest degree of attention of corporate executives d. A manager being rewarded on division revenues has the most incentive to make good decisions for his division