The floral industry in Rosevalley has a Herfindahl-Hirschman Index of 900. This implies that the flower market in Rosevalley is ________
A) not concentrated
B) moderately concentrated
C) highly concentrated
D) dominated by a few large buyers
A
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In monopolistic competition, a firm must determine what price to set for its good because
A) the demand for its good is not perfectly elastic. B) the demand for its good is perfectly elastic. C) there are many buyers. D) there are many sellers.
Which of the following statements is true?
A) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops. B) France is the leading exporting country, accounting for 10 percent of total world exports. C) Japan is more dependent on foreign trade than is the United States. D) Imports and exports account for over one-half of the GDP of Belgium.