According to the Herfindahl-Hirschman Index, which is the more concentrated industry?
A. Industry X with an index of 2,400.
B. Industry Y with an index of 2,738.
C. Both industries have the same indices.
D. There is no way to determine the Herfindahl Indices of these industries with this data.
B. Industry Y with an index of 2,738.
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The above figure shows the Lorenz curves for four different countries. Which of the following statements CAN be made on the basis of the graph?
A) Country C has the best balance between equity and efficiency. B) Country A is a socialist country. C) The income distribution is more equal in country B than in country D. D) all of the above
Airlines offer lower prices to vacationers than to business travelers because
A) of government regulations requiring them to do so. B) business travelers do not care at all about costs. C) business travelers are less flexible in their travel plans than vacationers are. D) airlines know that business travelers enjoy flying more than vacationers do.