There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 percent, 15 percent, 6 percent, and 4 percent. The Herfindahl index is
a. 96
b. 4,086
c. 10,000
d. 4,102
e. 4,100
Question 2
Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What happens to the industry in the long run?
a. It experiences no change from the original equilibrium
b. It experiences a higher equilibrium price and produces less output
c. It experiences a lower equilibrium price and produces less output
d. It experiences the same equilibrium price but produces more output
e. It experiences the same equilibrium price but produces less output
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
How would you rate your overall health?” The percent of adults answering “excellent” or ...
Nanomaterials Applications and Industry Used
A mere one-half percent of Americans owns over a quarter of the entire nation’s wealth. Very few ...
How to solve any percent change problem
How to solve any percent concentration problem