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Author Question: If the four-firm concentration ratio for an industry equals 100 percent, then definitely A) the ... (Read 73 times)

Charlie

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on: Jun 29, 2018
If the four-firm concentration ratio for an industry equals 100 percent, then definitely
 
  A) the Herfindahl-Hirschman Index (HHI) equals 10,000.
  B) the industry is a monopoly.
  C) a small number of firms are in the industry.
  D) there are no barriers to entry into the industry.

Question 2

Pablo must choose among options A, B, and C. Option A gives him 10,000 for sure. Option B gives him 4,000 with probability 0.5 or 16,000 with probability 0.5. Option C gives him 8,000 with probability 0.5 or 12,000 with probability 0.5.
 
  If he receives diminishing marginal utility from wealth, Pablo will A) choose option A.
  B) choose option B.
  C) choose option C.
  D) be indifferent among options A, B, and C.


aruss1303

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

C

Answer to Question 2

A


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