This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If political unrest abroad substantially reduces the supply of copper to the United States, the ... (Read 74 times)

Zoey63294

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
If political unrest abroad substantially reduces the supply of copper to the United States, the price of copper will rise by a larger amount
 
  A) the more elastic the demand for copper.
  B) the more inelastic the demand for copper.
  C) the more elastic the supply of copper.
  D) the more inelastic the supply of copper.

Question 2

There are 9 firms in an industry with market shares in the table above. Calculate the HHI for the industry. What kind of market does this operate in and why?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nhea

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The HHI equals 202 + 202 + 152 + 102 + 102 + 82 + 72 + 52 + 52 = 1388. With this HHI, the concentration ratio is low and so the market is monopolistic competition.


Zoey63294

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

The role of the liver in fuel supply to the blood. The role of the liver in fuel supply to the blood.
copper copper
French and U.S. presidential elections in 2012 illustrate the durability of political culture and ho French and U.S. presidential elections in 2012 illustrate the durability of political culture and ho
Many thought ideological politics was over in the United States, but 2012 showed strong ideological Many thought ideological politics was over in the United States, but 2012 showed strong ideological
Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ... Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ...
Percent of Selected Foods and Beverages Consumed in the United States Percent of Selected Foods and Beverages Consumed in the United States
Video: Brain Lobes Animation

For a complete list of videos, visit our video library