61) The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each. What is the Herfindahl-Hirschman index in the market for cookies in Eatsweetland?
62) The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each. Which of the following best describes the structure of the market for cookies in Eatsweetland?
A) perfect competition
B) monopolistic competition
63) The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each. The U.S. Department of Justice would classify the market for cookies in Eatsweetland as
C) moderately competitive.
(millions of dollars)
64) The table above lists the market shares of the twenty makers of personal computers. The four-firm concentration equals
A) 5 percent.
B) 20 percent.
C) 25 percent.
D) 100 percent.
65) The table above lists the market shares of the twenty makers of personal computers. The four-firm concentration ratio tells us that
A) the four largest firms have 20 percent of the market.
B) there are no barriers to entry in this market.
C) the firms sell differentiated products.
D) all firms sell identical products.
66) The table above lists the market shares of the twenty makers of personal computers. The Herfindahl-Hirschman Index for this industry equals
67) The table above lists the market shares of the twenty makers of personal computers. Based upon the Herfindahl-Hirschman Index
A) the industry is an oligopoly.
B) the industry is a monopoly.
C) the industry is competitive.
D) the firms in the industry will not be allowed to merge.
68) The table above lists the market shares of the twenty makers of personal computers. Based upon the Herfindahl-Hirschman Index for this industry, the Justice Department would
A) regard the industry as highly concentrated.
B) be against any two firms merging.
C) consider the market oligopolistic.
D) regard the industry as competitive.
(millions of dollars)
69) Based on the above table, which shows the firms and sales in an industry, what is the four-firm concentration ratio?
D) $740 million
70) Based on the above table, which shows the firms and sales in an industry, what is the approximate value of the Herfindahl-Hirschman Index?
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