Which of the following would be considered an economic function of government?

If there are four firms in an industry with market shares of 50 percent, 40 percent, 5 percent, and 5 percent, the Herfindahl-Hirschman Index is

A) 100. B) 4150. C) 25. D) 3450. E) undefined because there are not 50 firms in the industry.

If the wage rate paid in the fast-food outlets in a small town is greater than the reservation wage of all the teenagers in the town and less than the reservation wage of all the adults, then the fast-food outlets will hire ________

A) mostly adults and a few teenagers B) some adults and some teenagers C) only adults D) only teenagers