If there are 50 firms in the industry, and each have an equal market share, the Herfindahl index ...

If there are 50 firms in the industry, and each have an equal market share, the Herfindahl index will be equal to 1,00,000.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

A person obtains income by selling the services of the resources that he or she owns.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 3

Traditional economists base their models of human behavior on simplifying assumptions regarding rationality and decision making.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 4

Under the Clinton administration, attempts were made to relax the antitrust enforcement efforts of the Reagan administration.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

An unmarried couple holding joint title to their condominium constitutes a household.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 6

Utility theory is an efficient tool in making interpersonal utility comparisons.
a. True
b. False
Indicate whether the statement is true or false

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If there are 50 firms in the industry, and each have an equal market share, the Herfindahl index ...

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