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Author Question: The rate of product transformation (RPT) measures the ability of: a. a consumer to trade one good ... (Read 77 times)

Zoey63294

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on: Jul 1, 2018
The rate of product transformation (RPT) measures the ability of:
 a. a consumer to trade one good for another while still maximizing his or her utility.
  b. a firm to substitute one input for another and still maintain the same production level.
  c. society to substitute the production of one good for another while still using a fixed supply of inputs efficiently.
  d. a firm to produce a final good while starting with only natural resources.

Question 2

The ____ is equal to the sum of the squares of the market shares of all the firms in an industry.
 a. market concentration ratio
  b. Herfindahl-Hirschman index
  c. correlation coefficient
  d. standard deviation of concentration
  e. none of the above


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lorealeza

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

b


Zoey63294

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

vickybb89

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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