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Author Question: Suppose that Industry X has two firms with equal market shares, and Industry Y has three firms with ... (Read 227 times)

Cooldude101

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on: Jun 29, 2018
Suppose that Industry X has two firms with equal market shares, and Industry Y has three firms with 65 percent, 30 percent, and 5 percent market shares, respectively. Which of the following is TRUE?
 
  A) The HHI for Industry X is 50 higher than the HHI for Industry Y.
  B) The HHI for Industry X is 150 lower than the HHI for Industry Y.
  C) The HHI for Industry X is 100 higher than the HHI for Industry Y.
  D) The HHI is the same between Industry X and Industry Y.

Question 2

If a new unit excise tax is levied on bottles of wine, the
 
  A) demand for wine shifts to the left.
  B) demand for wine shifts to the right.
  C) supply of wine shifts to the right.
  D) supply of wine shifts to the left.


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duke02

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Cooldude101

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Reply #2 on: Jun 29, 2018
Correct answers!


duke02

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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