The minimum value of the Herfindahl-Hirschman Index (HHI) is ________ and the maximum value is ________.
A) 0; 10,000 B) 100; 1,000 C) 100; 10,000 D) 1; 1,000
C) 100; 10,000
Economics
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Because the demand for agricultural products is price-inelastic, price support programs tend to:
A. Increase farm income B. Decrease farm income C. Have no effect upon farm income D. Cause farm incomes to fluctuate more than they would without such programs
Economics
Which of the following examples shows marginal revenue product?
a. The newest staff member, Genevieve, started with a salary of $1,000 per week. b. Stan had sales of $1,000 per week and was paid $700, leaving profit of $300. c. When JP joined the team, the mechanics were able to service six more cars per day. d. A recent hire, Ganesh, added $1,600 per week to the accounting firm’s hourly billing.
Economics