Germany has a comparative advantage in the production of which product?

If the price elasticity of demand was 4.0 (in absolute terms), a 10% off sale would lead to:

a. a 40% increase in purchases by customers. b. a 40% decrease in purchases by customers. c. a 2.5% increase in purchases by customers. d. a 2.5% decrease in purchases by customers.

The percentage of all sales contributed by the leading firms in an industry is known as

A) the Herfindahl index. B) the Hirschman index. C) the zero sum. D) the concentration ratio.