What is the Herfindahl index of an industry made up of four equal-sized firms?
A) 1,667
B) 2,500
C) 2,250
D) 125
E) This cannot be determined without further information.
Ans: B) 2,500
Economics
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If workers in the auto industry were unionized as auto workers, regardless of their specific jobs in the plant, this union would be called a(n)
a. agency union b. industrial union c. skilled union d. craft union e. federated union
Economics
Define the law of demand and explain how this relates to typical human behavior.
What will be an ideal response?
Economics