One advantage of the Herfindahl index over the concentration ratio is that it:
A. gives extra weight to firms that are especially large.
B. is easier to calculate.
C. tells about only the top 50 firms in an industry.
D. takes into account only the leading firms in an industry.
Answer: A
Economics
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If the demand for cigarettes is highly inelastic, this indicates that:
a. higher cigarette prices will increase the demand for cigarettes. b. the price elasticity coefficient of cigarettes exceeds 1. c. the price elasticity coefficient of cigarettes equals 1. d. the quantity of cigarettes purchased by consumers is not very responsive to a change in the price of cigarettes.
Economics
A trough occurs at point
A. V.
B. W.
C. X.
D. Y.
Economics