There are 6 firms in a market and the market shares of the firms are 40 percent, 30 percent, 10 percent, 8 percent, 7 percent, and 5 percent. The Herfindahl-Hirschman index is
A) 2738.
B) 2664.
C) 100.
D) 88.
A
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The expansion path of product indifference curves shows the cost-minimizing combination of inputs.
Answer the following statement true (T) or false (F)
At a Nash equilibrium, each player in a game is said to be doing as well as he can given the actions of his competitor
a. True b. False Indicate whether the statement is true or false
Which of the following is a common characteristic of oligopolies?
a. Mutual interdependence regarding price, output, and advertising b. Market quantity demanded only large enough to support one firm c. Formal agreement to produce the same output at the same price d. Shared barriers to entry that limit the entry of other organizations
Stagflation is the result of
A. A decrease in aggregate supply. B. A decrease in aggregate demand. C. An increase in aggregate supply. D. An increase in aggregate demand.