If the value of the Herfindahl index is 10,000 . there must be exactly one firm in the industry
a. True
b. False
A
Economics
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The division of labor and specialization explain
A) why the average product of labor falls when firms use more capital or change the layout of their businesses. B) why, when the marginal product of labor increases, so does the average product of labor. C) why the marginal product of labor rises as a firm hires its first units of labor. D) why firms may find it profitable to use more workers when the marginal product of labor is negative.
Economics
If money is declared to be legal tender, it must be
A) minted from a precious metal. B) acceptable to citizens of foreign countries. C) possible to exchange it for an equivalent amount of precious metal. D) accepted to settle private transactions and it must be used in paying taxes.
Economics