Semester One Final Examinations, 2017
Economics of Business Strategy
PART A – Multiple Choice Questions
Answer ALL Questions on the Multiple Choice Answer Sheet.
Select the ONE answer that is most correct.
Each Question is worth 2 marks. (30 Marks Total)
Substitutes are defined as products with __________.
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If you were to read in a business section of your local newspaper that a recent
merger has led to an industry having a Herfindahl index measure equal to 0.45,
what is the proper conclusion?
A market has 5 firms. One of them has a market share of 50%, a second 20%, and
the other three 10% each. Which of the following statements is true?