In a perfectly competitive world:
A) two-way trade would not occur.
B) one-way trade would not occur.
C) neither one-way trade nor two-trade would occur.
D) both one-way trade and two-way trade would occur.
Ans: A) two-way trade would not occur.
Economics
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If a firm with a 20 percent market share merges with a firm with 5 percent of the market, by how much will the Herfindahl index change? The other firms have 40 percent, 15 percent, 10 percent, and 10 percent shares
a. It rises by 100. b. It rises by 200. c. It falls by 100. d. It falls by 200. e. It rises by 25.
Economics
In a society with market failure, there
a. is no pollution b. are no public goods c. is an inefficient allocation of resources d. are no markets e. is no need for a government
Economics