Industry X has four firms. The largest firm in Industry X has ...

[krzymel]

Industry X has four firms. The largest firm in Industry X has more than 90 percent of the market share. Industry Y also has four firms, but each of those four firms in Industry Y has 25 percent of the market share.
 
  The Herfindahl-Hirschman index will be A) the same for both industries, but the four-firm concentration will be larger for Industry Y than Industry X.
  B) the same for both industries, but the four-firm concentration will be larger for Industry X than Industry Y.
  C) larger for Industry Y than Industry X, but the four-firm concentration will be the same.
  D) larger for Industry X than Industry Y, but the four-firm concentration will be the same.

Question 2

Real GDP is ________ determined in the classical model and ________ determined in the Keynesian model.
 
  A) supply; supply
  B) supply; demand
  C) demand; supply
  D) demand; demand

[cdmart10]

Answer to Question 1

D

Answer to Question 2

B