The Herfindahl-Hirschman Index approaches ________ when a market consists of a large number of firms of relatively equal size

What is a cartel? Can cartels generate long-term profits without the existence of barriers to entry?

What will be an ideal response?

In 2010, Tatum's nominal income rose by 4.6 percent and the price level rose by 1.6 percent. We can conclude that Tatum's real income:

A. may have either increased or decreased. B. rose by approximately 6.2 percent. C. rose by approximately 3 percent. D. fell by approximately 13 percent.