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What is the Herfindahl-Hirschman Index (HHI) for an industry in which five firms each control 20% of the market? a. 20; b. 100; c. 2,000; d. 5,000 33. Which of the following pieces of antitrust legislation banned tying contracts, limited mergers, and banned price discrimination? a. The Sherman Act. b. The Wheeler-Lea Act. c. The Clayton Act. d. The same legislation that created the Interstate Commerce Commission (ICC). 34. Refer to the figure below. How much profit does the profit-maximizing monopoly earn? a. $0; b. $6,000; c. $5,040; d. $10; e. $96035. Refer to the figure below. From the structure of cost and revenue of the firm, we would predict that this monopoly will: a. Shut down in the short run, and go out of business in the long run. b. Shut down in the short run, but continue to operate in the long run. c. Operate in the short run, but go out of business in the long run. d. Operate
Consider the case of an accident involving an injurer and a victim. The victim has suffered a harm of 10,000. The law holds the injurer liable to fully compensate the victim if and only if the former was negligent. Find the ‘range of the settlement’ ..
According to studies undertaken by the Department of Agriculture, the price elasticity of demand for cigarettes is approximately -0.3 and the income elasticity is approximately 0.5.
Suppose a wage increase from $11 to $13 an hour increases the number of job applicants from 42 to 56. What is the price elasticity of labor supply?
who are well-known to be boring, stuffy types; what could be a better way to reinforce one's credentials as a radical, innovative thinker than to skewer their most beloved doctrine.
Supposing you want to see how student perception about civic engagement change in college. You collect data on first year students in 2010, and then collect data from the same students in 2014, their senior year. Does your data have limited dependent..
q.assume that in 1998 the following prevails in the republic of nurd y200 g0 c160 t0 s40 iplanned30assume that
Elucidate how each of the following would affect the demand schedule you derived.
If the required reserve ratio were .25, then a $8 million increase in H ("high-powered money") from the Fed could lead to an increase in the money supply by as much as $____ million.
When the price of gasoline increased from 3 to 4 dollars per gallon, the demand for gasoline decreased from 100,000 gallons to 90,000 daily. Also, the demand for a $50,000 SUV dropped from 3000 to 2500 cars per month. Estimate the change in the total..
The general public's demand for flights to Florida has an elasticity of -2 all year round. A monopolistic airline has been optimally charging everyone $360 for a round trip. Next, the airline finds out that during spring break, the price elasticity o..
If inflation turns out to be 1% over the life of the loan, what is the real interest rate? Who gains from unexpectedly low inflation, Loretta or Ted?
Why might college students’ price elasticity for vacation rentals on HHI be 3.0 while active seniors’ price elasticity be 1.0?
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