The only major disadvantage of paper money is that it is hard to divide into smaller denominations

In general, monopolistically competitive firms earn profits _____.

(A) Higher than oligopolies. (B) Slightly above their costs in the long run. (C) Well above their costs in the long run. (D) About the same as oligopolies.

If you sum the squares of the market shares of each firm in an industry (as measured by percent of industry sales), you are calculating the:

A. four-firm concentration ratio. B. Herfindahl index. C. degree of collusion. D. Lerner index.