If an industry consists of five firms each with a 20% market share, then the Herfindahl-Hirschman index would equal 1,600

In which of the following cases did the U.S. Supreme Court decide that a corporation was an "individual" but not a constitutional citizen?

(a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819)

A firm that minimizes average cost will not survive in the long run

a. True b. False