The Herfindahl-Hirschman Index measures how differentiated products are in a market.

What is the name and make-up of the policymaking group that has the authority to conduct open market operations? Describe how the use of open market operations helps to increase or decrease the money supply

Figure 3-10

illustrates the conditions of demand and supply in the market for compact discs. Indicate the equilibrium price and quantity.
a.
price, $20; quantity, 2,000
b.
price, $15; quantity, 3,000
c.
price, $10; quantity, 2,000
d.
price, $10; quantity, 4,000