There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 percent, 15 percent, 6 percent, and 4 percent. The Herfindahl index is

An increase in the price of football tickets will cause the ________ for (of) basketball tickets (a substitute) to ________ .

A) demand; increase B) demand; decrease C) supply; decrease D) supply; increase

Price discrimination

A) eliminates the producer surplus. B) turns consumer surplus into producer surplus. C) decreases output below the profit-maximizing level. D) lowers a monopoly's economic profit.