Author Question: If the above figure illustrated a perfectly competitive industry, the equilibrium market price would ... (Read 58 times)

faduma · **on:** Jun 29, 2018

If the above figure illustrated a perfectly competitive industry, the equilibrium market price would be equal to

A) 4.
B) 7.
C) 9.
D) 11.

Question 2

An industry is made up of 8 firms with the following percent market shares: 29, 20, 11, 10, 9, 8, 7, 6. The firms with 8 and 7 percent market share are proposing to merge. What is the new Herfindahl-Hirschman index if the merger takes place?

A) 225
B) 1462
C) 1692
D) 1804