The ________ the Herfindahl-Hirschman Index, the ________
A) lower; more concentrated the industry
B) higher; more concentrated the industry
C) higher; less concentrated the industry
D) lower; higher the profits earned in the industry
B
You might also like to view...
When are black markets likely to arise?
A) when the government removes a price floor B) when the government enforces a price ceiling C) when there is a surplus of a good D) when the quantity supplied of a good exceeds the quantity demanded
A monopolist wishing to increase its profit has just discovered that lowering its price and selling more output yielded the desired result. Profit increased. Based on this, we can conclude that the cost of the additional production is
A) greater than the revenue from the additional production. B) precisely equal to the revenue from the additional production. C) less than the revenue from the additional production. D) there is no way to answer this because you have not given us the marginal revenue and marginal cost data.