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Question 6 A Herfindahl-Hirschman Index of 10,000 means that this industry is best described as: a monopoly. perfectly competitive. monopolistically...

Question 6
A Herfindahl-Hirschman Index of 10,000 means that this industry is best described as:

a. a monopoly.

b. perfectly competitive.

c. monopolistically competitive.

d. oligopolistic.

e. a monopsony.

Question 7
There are five firms in an industry with sales of $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. The four-firm concentration ratio is:

a. 0.9.

b. 1.0.

c. 0.8.

d. 0.7.

e. None of the above.

Question 8
There are four firms in an industry with sales of $2.5 million each. The four-firm concentration ratio is:

a. 0.9.

b. 1.0.

c. 1.2.

d. 3.2.

e. None of the above.
Question 9
There are four firms in an industry with sales of $2.5 million each. The HHI is:

a. 1,800.

b. 2,500.

c. 2,800.

d. 3,200.

e. None of the above.


Question 10
What is the HHI for an industry consisting of 50 firms with equal sales?

a. 50.

b. 200.

c. 400.

d. 800.

e. None of the above.

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Economics- 8278584.doc

Question 6
A Herfindahl-Hirschman Index of 10,000 means that this industry is best described as:
a. a monopoly.
b. perfectly competitive.
c. monopolistically competitive.
d. oligopolistic.
e. a...

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