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Calculate the Herfindahl-Hirschman Index (HHI) for each of the following industries. Which industry is the most concentrated?a. An industry with five firms that have the following market shares: 50 percent, 30 percent, 10 percent, 5 percent, and 5 percent.b. An industry with five firms that have the following market shares: 60 percent, 20 percent, 10 percent, 5 percent, and 5 percent.
The industry demand function for bulk plastics is represented by the following equation: P=800-20Q Where Q represents millions of pounds of plastic. The total cost function for the industry, exclusive of a required return on invested capital, is TC=3..
data from the land of milk and honey: year price of milk quantity of milk price of honey quantity of honey 2010 $1 100 quarts $2 50 quarts 2011 $1 200 quarts $2 100 quarts
The Downtown Parking Authority of Tampa, Florida, reported the following information for a sample of 250 customers on the number of hours cars are parked and the amount they are charged. Number of Hours Frequency Amount Charged 1 20 $ 3.00 2 38 6...
A manufacture has been selling 1700 television sets a week at 420dollars each. A market survey indicates that for each 21 -dollarrebate offered to a buyer, the number of sets sold will increase by210 per week.
My paper firm generates a monthly profit of $500,000 as I dump a noxious affluent into the nearby river due to the absence of law or regulation. Your downstream brewery must therefore filter the water before it is used to make beer which, in turn,..
Suppose a freeze in Florida wipes out 20% of the apple crop. How will this affect the equilibrium price and quantity of pear Assume that the apple and pear are substitute to each other.
The cup is placed over the pill and as the cup is pressed down, the pill is split into pieces which are contained inside the cup. Because the cup is above the pill, persons can see how the pill is cut and keep the pieces contained.
Consider the following information. For Group A the cost of attaining an educational level is CA(y)=$6,000y and for Group B this is CB(y)=$10,000y. Employees will be offered $50,000 if they have y
Customer Group B is willing to pay $29,000 for the SUV and $1,000 for the towing package. Assuming the manufacturer cannot price discriminate but can bundle the products or sell them separate, which of the options below maximizes its revenues
Assume you have the following model of the expenditure sector: Sp = C + I + G + NX C = 400 + (0.8)YD Io = 200 G = 300 + (0.1)(Y* - Y) YD = Y - TA + TR NXo = - 40 TA = (0.25)Y TRo = 50 What is the size of the output gap if potential ou..
A firm sandab has a production function x =f(h,k) =ln(h)+3ln(k), where x=pots of crabs caught, h=labor hours employed, and k= number of boats rented (all per week); k>1. San dab operates in perfectly competitive markets.
Wilpen Corporation, a price-setting company, manufactures nearly 80% of all tennis balls purchased in the United States.
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