As concentration in an industry increases, the value of the ...

[jho37]

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

[wshriver]

Answer to Question 1

B

Answer to Question 2

A

[jho37]

Thanks for the timely response, appreciate it

[rleezy04]

Excellent