Suppose that there are five firms in a market, each controlling 20% of the market. The HHI would equal:

A change in the price level does not shift the aggregate demand curve

Indicate whether the statement is true or false

Refer to Figure 15-18 to answer the following questions

a. What quantity will this monopoly produce and what price will it charge? b. Suppose the government decides to regulate this monopoly and imposes a price ceiling of $25. Now what quantity will the monopoly produce and what price will it charge? c. Will every consumer who is willing to pay the ceiling price of $25 be able to buy the product? Briefly explain.