The Herfindahl-Hirschman Index measures
a. concentration in the industry.
b. industrial average output.
c. economies of scale.
d. consumer confidence.
a
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If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year. 
A. 300; 200 B. 300; 450 C. 450; 200 D. 200; 450
The small town of Narberth has two pizza stores. Which of the following statements are CORRECT?
I. The profits of each store depend on the price of the pizza at the other store. II. Both stores would increase their profit if they cooperated in setting their prices. A) I only B) II only C) Both I and II D) Neither I nor II
Refer to Table 4-8. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $9.00; Q = 410,000 B) W = $9.50; Q = 420,000 C) W = $8.00; Q = 390,000 D) W = $8.50; Q = 400,000
Given the payoffs in the matrix shown, Firm A:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. has a dominant strategy to compete.
B. does not have a dominant strategy.
C. has a dominant strategy to collude.
D. None of these statements is true.