The entry and exit of firms in a perfectly competitive market is mostly dependent on:
A) the number of firms in the market.
B) government regulations.
C) profitability.
D) the number of consumers in the market.
C
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Listed in the above table are the total revenues for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
A Business Wire report shows that sales at Target stores increased in 2012 compared to the previous year. (Source: Business Wire, August 30, 2012 ) Incomes grew slightly between 2011 and 2012
Using that fact and the sales data given above means that Target definitely is selling goods and services that A) are normal. B) are inferior. C) have an income elasticity of zero. D) have an income elasticity of 1.