Suppose the firms in a five-firm industry have market shares of 30, 30, 20, 10, and 10 percent, respectively. The Herfindahl index for the industry is:

The CPI was 170 last year and is 190 this year. What is the inflation rate between these two years?

A) 20 percent B) 11.8 percent C) 18 percent D) 15.0 percent E) 10.5 percent

Bob invests $50 in an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. From this information we can conclude that Bob is NOT

A) risk loving. B) risk neutral. C) risk averse. D) rational.