Suppose there are 5 makers of tablet computers with market shares of 80%, 5%, 5%, 5%, and 5% respectively. The HHI is
A. 10,000.
B. 0.
C. 20.
D. 6,500.
Answer: D
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A government budget deficit occurs during a budget year when
A. tax revenues = government spending. B. tax revenues < government spending. C. tax revenues > government spending. D. tax revenues + government spending = personal consumption.
Given the following table for a competitive firm which is maximizing profits, if the marginal revenue product of the last worker hired is $150 and three workers are employed per day, the price of a unit of output must be:
A. $1,000
B. $100
C. $20
D. $10
Aggregation involves adding together different products and services
a. True b. False Indicate whether the statement is true or false
Along the supply? curve, _______.
A. the quantity supplied increases as the price rises because technology advances B. the quantity supplied increases as the price rises because the prices of factors of production rise C. the quantity supplied increases as the price rises because the prices of substitutes in production also rise D. the price changes but all other influences on? producers' planned sales remain the same