A market has the following characteristics: There is strategic decision making, output is somewhat restricted, there are few firms, and some long-run economic profits are possible. This market is:
A) a monopoly.
B) an oligopoly.
C) monopolistically competitive.
D) perfectly competitive.
Correct Answer:
Verified
Q68: If an industry has a Herfindahl index
Q69: One advantage of the Herfindahl index over
Q70: Judgment by performance means that the competitiveness
Q71: The Herfindahl index is calculated by:
A) adding
Q72: If an industry has exactly 20 firms
Q74: In a market, there are many firms
Q75: The concentration ratio is defined as the:
A)
Q76: If an industry has exactly 10 firms
Q77: The top four firms in the industry
Q78: Suppose an industry has a four-firm concentration
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents