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Author Question: The Herfindahl index is the sum of the squared market shares of the four largest firms in an ... (Read 24 times)

eruditmonkey@yahoo.com

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on: Jun 30, 2018
The Herfindahl index is the sum of the squared market shares of the four largest firms in an industry.
 a. True
  b. False

Question 2

Assume that a perfectly competitive constant-cost industry is in long-run equilibrium when market demand suddenly decreases. Which of the following statements is incorrect?
 a. Existing firms will start to suffer short-run losses
  b. Existing firms will shut down in the short run if average variable cost exceeds average revenue at all output levels
  c. Some firms will leave the industry in the long run
  d. The market supply curve will shift to the right in the long run
  e. Any short-run losses will be eliminated in the long run


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Ashley I

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


eruditmonkey@yahoo.com

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Reply #2 on: Jun 30, 2018
Thank you :)


Ashley I

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Reply #3 on: Jun 30, 2018
Happy to help you


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