« previous next »

Author Question: There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 ... (Read 168 times)

asmith134

  • Hero Member
  • *****
  • Posts: 576
on: Jun 30, 2018
There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 percent, 15 percent, 6 percent, and 4 percent. The Herfindahl index is
 a. 96
  b. 4,086
  c. 10,000
  d. 4,102
  e. 4,100

Question 2

Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What happens to the industry in the long run?
 a. It experiences no change from the original equilibrium
  b. It experiences a higher equilibrium price and produces less output
  c. It experiences a lower equilibrium price and produces less output
  d. It experiences the same equilibrium price but produces more output
  e. It experiences the same equilibrium price but produces less output


ansleighelindsey

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

asmith134

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: Jun 30, 2018
Thank you :)


ansleighelindsey

  • Sr. Member
  • ****
  • Posts: 364
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Any number of crossovers gives 50 percent recombinants Any number of crossovers gives 50 percent recombinants
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ... Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ...
Percent of Mothers in the Workforce by Age of Children and Marital Status Percent of Mothers in the Workforce by Age of Children and Marital Status
How to solve any percent change problem How to solve any percent change problem
Video: Introduction to Heart Attacks

For a complete list of videos, visit our video library