The largest value the Herfindahl index can have is a. 100, which ...

[FButt]

The largest value the Herfindahl index can have is
 a. 100, which would indicate a monopoly
  b. 100 for firms equal in size
  c. 100,000
  d. 10,000 . which would indicate a pure monopoly
  e. infinity

Question 2

Firms achieve productive efficiency in the long run by
 a. striving to minimize fixed cost
  b. striving to maximize revenue
  c. producing at their minimum long-run average cost
  d. producing at their minimum long-run marginal cost
  e. producing the output consumers want most

[ebonylittles]

Answer to Question 1

D

Answer to Question 2

C