Author Question: In an oligopoly with two firms, one firm's share of the market is 70 percent. The ... (Read 87 times)

lindiwe · **on:** Jun 29, 2018

In an oligopoly with two firms, one firm's share of the market is 70 percent. The Herfindahl-Hirschman Index is ________.

A) 4,900
B) 0.7
C) 5,800
D) 100

Question 2

A perfectly competitive firm is making an economic profit when

A) its total revenue is greater than its total cost.
B) the price is greater than the minimum of its average total cost.
C) the price is greater than the minimum of its average variable cost.
D) Both answers A and B are correct.