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-A Market Has 4 Firms in It

Question 40

Multiple Choice

-A market has 4 firms in it. The market shares are in the table above. The table represents a(n) ________ market because its ________. A) competitive; Herfindahl-Hirschman Index (HHI) equals 1,425 B) uncompetitive; Herfindahl-Hirschman Index (HHI) equals 65 per cent C) uncompetitive; four-firm concentration ratio exceeds 60 per cent D) competitive; four-firm concentration ratio equals 65 per cent E) perfectly competitive; Herfindahl-Hirschman Index (HHI) is less than 1,500
-A market has 4 firms in it. The market shares are in the table above. The table represents a(n) ________ market because its ________.


A) competitive; Herfindahl-Hirschman Index (HHI) equals 1,425
B) uncompetitive; Herfindahl-Hirschman Index (HHI) equals 65 per cent
C) uncompetitive; four-firm concentration ratio exceeds 60 per cent
D) competitive; four-firm concentration ratio equals 65 per cent
E) perfectly competitive; Herfindahl-Hirschman Index (HHI) is less than 1,500

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