Author Question: As concentration in an industry increases, the value of the Herfindahl index falls. a. True b. ... (Read 42 times)

jho37 · **on:** Jun 30, 2018

As concentration in an industry increases, the value of the Herfindahl index falls.
a. True
b. False

Question 2

Suppose, as a result of a long-run adjustment in a perfectly competitive industry to a change in demand, price and output both fell. Therefore, demand must have __________ in this __________ industry.
a. fallen; increasing cost
b. fallen; decreasing cost
c. increased; increasing cost
d. increased; decreasing costs
e. decreased; constant cost