Efficient production implies that it is:
A) possible to produce more of all goods and services.
B) it is possible to produce more of one good without producing less of another.
C) not possible to produce more of one good without producing less of another good.
D) producing at a combination of goods which lies between the production possibilities curve and the origin.
Ans: C) not possible to produce more of one good without producing less of another good.
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If there are five firms in an industry, each with a market share of 20 percent, the Herfindahl-Hirschman Index (HHI) of concentration is
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