« previous next »

Author Question: There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 ... (Read 174 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?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Identical twins share 100 percent of their segregating genes. Identical twins share 100 percent of their segregating genes.
One target for expanding medical services involves vaccinations. Only 78 percent of children ages 19 ... One target for expanding medical services involves vaccinations. Only 78 percent of children ages 19 ...
Natural Resources and Industry Natural Resources and Industry
How to solve any percent efficiency problem How to solve any percent efficiency problem
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ... Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ...
Video: Monohybrid crosses

For a complete list of videos, visit our video library