All of the following are measures of market power except the:
A) Lerner Index.
B) Minimum-Efficient Scale Index.
C) four-firm concentration ratio for an industry.
D) Herfindahl-Hirschman Index.
B
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Under conditions of oligopoly markets, firms generally don't like to compete based on price. Why? a. Because no producer has a cost advantage in doing so
b. Because consumers rarely spend time making price comparisons between different brands. c. Because competing on the basis of price can set off a price war among competitors and significantly reduce profits to the firm. d. Because price competition is illegal in most states.
Draw a graph of the monopolistic competitor in the long run in the graph below.
Refer to the information provided in Figure 15.4 below to answer the question(s) that follow. 
Figure 15.4 Refer to Figure 15.4. Assume The Hand Made Shirt Shop has fixed costs of $150 and is a monopolistically competitive firm. To maximize profits, the firm ________ of $23.
A. earns a per-unit profit B. has an average total cost C. should set a price D. has an average fixed cost
If the inflation premium is 3% and the real interest on a loan is 4%, then the nominal interest rate is:
A. 1% B. -1% C. 7% D. 0.75%