An industry consists of four firms with annual sales of $300, $500, $400, and $600, respectively. What is the industry's HHI?
A. 2,654
B. 10,000
C. 1,659
D. There is not sufficient information to compute the industry HHI.
Answer: A
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Assuming steak and potatoes are complements, other things being equal, an increase in the price of steak, will:
a. increase the demand for potatoes. b. decrease the demand for potatoes. c. increase the demand for steak. d. decrease the demand for steak.
The point where the PPF intersects the horizontal axis is
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.
If the efficient market hypothesis is correct, then
a. index funds should typically beat managed funds, and usually do. b. index fund should typically beat managed funds, but usually do not. c. mutual funds should typically beat index funds, and usually do. d. mutual funds should typically beat index funds, but usually do not.
Which of the following would most likely increase the demand for gasoline?
A. The expectation by consumers that gasoline prices will be higher in the future. B. The expectation by consumers that gasoline prices will be lower in the future. C. A widespread shift in car ownership from SUVs to hybrid sedans. D. A decrease in the price of public transportation.