Consider an industry that is made up of six firms with the following market shares: Firm A - 50, Firm B - 20, Firms C and D - 10 each, and Firms E and F - 5 each.
What is the value of the Herfindahl-Hirschman Index and how will the industry be categorized?
A) 2,500; mildly concentrated B) 3,150; highly concentrated
C) 8,100; highly concentrated D) 10,000; effectively competitive
Question 2
Perfect price discrimination will lead a firm to produce up to the point where price equals marginal cost, the efficient level of output.
Indicate whether the statement is true or false
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