Which of the following statements is correct?
a. Firms with some degree of monopoly power are common, but firms with substantial monopoly power are rare.
b. Firms with some degree of monopoly power are rare, as are firms with substantial monopoly power.
c. Firms with some degree of monopoly power are common, as are firms with substantial monopoly power.
d. Firms with some degree of monopoly power are rare, but firms with substantial monopoly power are common.
a
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Country X produces only one good. It produced 12,500 units of a good during a particular year. If the price of the good during that year was $100 and the price of the good during the previous year was $95, the nominal GDP of the country is ________
A) $875,000 B) $1,187,500 C) $2,450,000 D) $1,250,000
According to the Justice Department and the Federal Trade Commission, a merger would likely be challenged if
A) the post-merger industry has an HHI above 1,500 and the HHI rises by more than 100. B) the post-merger industry has an HHI above 500 and the HHI rises by more than 50. C) the number of firms in the post-merger industry is very large. D) the firms' markets are very large.