The Department of Justice guidelines call for government intervention in mergers when the Herfindahl-Hirschman Index in that industry is
a. 0
b. less than 100
c. between 1,000 and 1,800
d. less than 1,800
e. more than 1,800
E
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Change in the price of a good causes the demand schedule for that good to shift.
Answer the following statement true (T) or false (F)
Suppose that households and businesses increase autonomous expenditures, driving output well above potential. Describe, in detail, how monetary policy might react to minimize the increase in inflation
What will be an ideal response?
Steve is planning to divide his study time between English and calculus. It will take him two hours of study for each extra point in calculus and one hour of study to raise his English score by one point. He should allocate his time so that
a. the marginal utility of an hour spent studying calculus is twice the marginal utility of an hour spent studying English b. the marginal utility of an hour spent studying English is twice the marginal utility of an hour spent studying calculus c. the marginal utility per hour spent studying calculus equals the marginal utility per hour spent on English d. he spends twice as much time on calculus as on English e. he spends twice as much time on English as on calculus
Suppose a perfectly competitive industry is in long-run equilibrium. If a decrease in demand leads to a higher long-run price, we know that
A. this is an increasing-cost industry. B. some firms will be losing money in the long run. C. after further adjustments, price will fall to its original level. D. this is a decreasing-cost industry.