Girlfriend's Salon is the only hair salon in Sunnyvale, a small ...

[CharlieWard]

Girlfriend's Salon is the only hair salon in Sunnyvale, a small town. Which of the following statements correctly describes a concentration measure for salons in Sunnyvale?
◦ The measure would incorrectly show an uncompetitive market structure because many firms could open in Sunnyvale without any restrictions.
◦ The measure would incorrectly show an uncompetitive market because the measure does not reflect the low prices charged at Girlfriend's Salon.
◦ The measure would correctly show a monopoly exists in town because there are so few residents.
◦ The measure would correctly show a monopoly exists because Girlfriend's revenues are low.
◦ The measure would incorrectly show a perfectly competitive market exists because new salons can open and compete with Girlfriend's.

[mjenn52]

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[Trevor Cardoza]

THank you