The rate of product transformation (RPT) measures the ability of: ...

[Zoey63294]

The rate of product transformation (RPT) measures the ability of:
 a. a consumer to trade one good for another while still maximizing his or her utility.
  b. a firm to substitute one input for another and still maintain the same production level.
  c. society to substitute the production of one good for another while still using a fixed supply of inputs efficiently.
  d. a firm to produce a final good while starting with only natural resources.

Question 2

The ____ is equal to the sum of the squares of the market shares of all the firms in an industry.
 a. market concentration ratio
  b. Herfindahl-Hirschman index
  c. correlation coefficient
  d. standard deviation of concentration
  e. none of the above

[lorealeza]

Answer to Question 1

c

Answer to Question 2

b

[Zoey63294]

Thanks for the timely response, appreciate it

[chereeb]

YES! Correct, THANKS for helping me on my review