There are six firms in the cresset industry. The market shares of the four largest firms are 50 percent, 20 percent, 10 percent, and 7 percent. The Herfindahl index is

Every year as the clock nears midnight on December 31st, the eyes of the world turn to Times Square in New York City to watch the famous ball drop at midnight

The event is open to everyone, but it is advised you arrive early to be able to participate because the square quickly becomes crowded with no space left for latecomers. This celebration is most like a A) common resource. B) public good. C) private good. D) natural monopoly.

All consumption bundles along a given indifference curve are equally desirable

Indicate whether the statement is true or false