This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If political unrest abroad substantially reduces the supply of copper to the United States, the ... (Read 37 times)

Zoey63294

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
If political unrest abroad substantially reduces the supply of copper to the United States, the price of copper will rise by a larger amount
 
  A) the more elastic the demand for copper.
  B) the more inelastic the demand for copper.
  C) the more elastic the supply of copper.
  D) the more inelastic the supply of copper.

Question 2

There are 9 firms in an industry with market shares in the table above. Calculate the HHI for the industry. What kind of market does this operate in and why?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nhea

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The HHI equals 202 + 202 + 152 + 102 + 102 + 82 + 72 + 52 + 52 = 1388. With this HHI, the concentration ratio is low and so the market is monopolistic competition.


Zoey63294

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Wow, this really help

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Gonorrhea Rates in the United States Gonorrhea Rates in the United States
A fuel pump in a farming area that clearly states the red diesel fuel is for off-road use only ... A fuel pump in a farming area that clearly states the red diesel fuel is for off-road use only ...
Food Assistance Programs in the United States Food Assistance Programs in the United States
The original Supply and Demand graph The original Supply and Demand graph
Age structure for the United States Age structure for the United States
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library