Question

Select the correct answer: The square of the percentage market share of each firm summed over...

Select the correct answer:

The square of the percentage market share of each firm summed over the 50 largest firms is the (50-firm concentration ratio; Herfindahl-Hirschman Index).

A (cartel; duopoly) is a group of firms acting together to limit output, raise price, and increase economic profit.

In monopolistic competition there are a large number of firms producing (identical; differentiated) products.

Game theory is the main tool that economists use to analyze (irrational; strategic) behavior.

Homework Answers

Answer #1

(A)

Suqare of the percentage market share of each firm summed is done in case of the Herfindahl-Hirschman Index.

The correct answer is the Herfindahl-Hirschman Index.

(B)

When a firm collude in order to limit output so that prices can be raised and economic profit can be increased then they are said to be forming cartel.

The correct answer is the cartel.

(C)

Monopolistic competition is characterized by the presence of large number of firms with each selling differentiated product.

The correct answer is the differentiated.

(D)

Economists generally use Game Theory to analyze the strategic behavior.

The correct answer is the strategic.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b....
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b. Wheat c. Oil d. Fast food e. Soybeans Oligopolists are more sensitive to the pricing and output policies of their rivals when: a. there are many firms in the industry. b. all firms produce identical products. c. there are barriers to entry. d. there is freedom of entry and exit. e. their products are highly differentiated. It is harder to explain the behavior of...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT