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Suppose that the most popular car dealer in your area sells 20 percent of all vehicles.
Instructions: Enter your answers as whole numbers.
a. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers in your area? .
b. In that same situation, what would the four-firm concentration ratio be? percent.
Distinguish between the following views of monetary policy
Suppose E-Mobile purchases every gas company in the world and set their prices. Then it would have a control of the gas market with no other competition. Thus E-Mobile becomes a monopolist in providing gas. The market demand curve faced by E-Mobile i..
Discuss the conditions that will help the union achieve the objective. Why might a union be unable to meet its goal?
Compared to their levels in 2003, the poverty line has ________ and the minimum hourly wage has ________.
If the government provides every citizen a hula-hoop then it follows that in economic terms:
Dialectic materialism refers to which of the following concepts?
You are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart.
A consumer has preferences between two goods, hamburgers (measured by H) and milkshakes (measured by M). His preferences over the two goods are represented by the utility function U = √H + √M. For this utility function MUH = 1/(2√H) and MUM = 1/(2√M)..
What is the value of an investment that will pay investors 2,980 dollars per year for 7 years and will also pay investors an additional 4,970 dollars in 1 year(s) from today if the expected return for the investment is 7.45 percent per year and the f..
If you receive an inheritance of $10,000 today, how long do you have to invest it at 8% per year to be able to withdraw $2,000 every year forever? Assume the 8% per year is a return that you can depend on forever.
Consider an economy that begins with output equal to its natural level. Suppose the government enacts a decrease in income taxes (e.g. the 2001 Bush tax cuts). Explain the meaning of the natural level of output. What is the impact on consumption and ..
Compute the profit-maximizing output for the price leader. Illustrate what the market price is given the price leader's output in (c). Elucidate how much does each competitive firm produce.
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