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

Author Question: The Herfindahl index is the sum of the squared market shares of the four largest firms in an ... (Read 82 times)

eruditmonkey@yahoo.com

  • Hero Member
  • *****
  • Posts: 546
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ashley I

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


eruditmonkey@yahoo.com

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jun 30, 2018
Thank you :)


Ashley I

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Blue-tongued lizards are the largest species of skink Blue-tongued lizards are the largest species of skink
Eighteen-year-olds were the largest age cohort in the first year of the war in both armies. Soldiers Eighteen-year-olds were the largest age cohort in the first year of the war in both armies. Soldiers
The grand opening of the huge Miraflores lock on the Panama Canal in October, 1914. The locks were b The grand opening of the huge Miraflores lock on the Panama Canal in October, 1914. The locks were b
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ... Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
Therapeutic index: (a) Drug X has a therapeutic index of 4. (b) Drug Z has a therapeutic index of 2. Therapeutic index: (a) Drug X has a therapeutic index of 4. (b) Drug Z has a therapeutic index of 2.
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: How to make cDNA Animation

For a complete list of videos, visit our video library