The Herfindahl-Hirschman Index is the ________ of the percentage market share of each firm summed over the largest 50 firms in a market

In the long run, new firms can enter an industry and so the supply elasticity tends to be:

A. more elastic than in the short run. B. less elastic than in the short run. C. perfectly inelastic. D. perfectly elastic.

The length of time people spend in search of a job increases if

A) there is a sudden change in technology. B) the population ages. C) the criteria necessary to qualify for unemployment benefits increases. D) unemployment benefits increase. E) the minimum wage is decreased.