Governments that chose to make endangered elephants private goods have met with more success protecting elephants than governments that chose to make killing elephants illegal

The Herfindahl-Hirschman Index is calculated by ________

A) adding the market share of each firm in the market and squaring the resulting number B) squaring the market share of each firm competing in the market and then summing the resulting numbers C) adding the number of firms in the market and squaring the resulting number D) adding the profit earned by each firm in the market

Prime Pharmaceuticals has developed a new asthma medicine, for which is has a patent. An inhaler can be produced at a constant marginal cost of $2/inhaler

The demand curve, marginal revenue curve, and marginal cost curve for this new asthma inhaler are in the figure above. With its patent giving it a monopoly for its new inhaler, if Prime Pharmaceuticals operates as a single-price monopoly, then consumer surplus is ________ and producer surplus is ________. A) zero; $64 million B) $32 million; $32 million C) $16 million; $32 million D) $16 million; $48 million.