Answer-True.
A producer's market share is the proportion of output produced by the producer out of the total product of the industry.
A producer's market share is the fraction of the total industry output accounted for by that...
Over many years, share repurchases have accounted for an increasing percentage of the total cash paid out by firms to shareholders. True False
5. Producer's surplus and price changes The following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the acceptable minimum price, for one student. Assume that anyone who has an acceptable minimum price equal to the market price is willing to sell his or her used calculator. 6,90 Alyssa Tim PRICE (Dollars per used calculator) Rosa...
In 2018, this country accounted for the biggest share of world output (measured by GDP) A. Japan B. Germany C. India D. US E. China
When firms compete by choosing output, the resulting market outcome will be efficient (maximize total surplus). True or False?
7. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph.The following diagram shows the market demand for copper.Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 20 firms in the market. (Hint:...
Market share in the Widget industry Firm name Market share Big W 50 Widico 40 Widgotech 9 Widgette 1 Using the market shares in the table above, if Big W wants to buy Widgette, the Federal Trade Commission will probably approve the merger because the industry is moderately concentrated and the increase in the Herfindahl-Hirschman index (HH) is small enough. o block the merger because the industry is highly concentrated (HHI exceeds 2,500) and the increase in the HHI is...
7. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. The following diagram shows the market demand for copper. Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 20 firms in the market. (Hint:...
1) Compared with a purely competitive industry, a monopolist produces a. more output at a lower price. b. less output at a higher price. c. more output at a higher price. d. less output at a lower price. 2) Which one of the following statements about monopoly firms and firms in a purely competitive industry is true? a. In the long run, monopoly firms and firms in a purely competitive industry operate at the minimum point of their average total...
5) A firm’s market share is the quantity the firm sells, divided by the total market quantity. In an industry there are 11 firms with market shares: 10%, 20%, 15%, 5%, 30%, 10%, and five additional firms with 2% each. a) The I4 index is defined as the sum of shares of the largest 4 firms in the market. What is the I4 index of market concentration for this market? The I8 index is the sum of the shares of...
A market with a monopoly firm will have higher prices and less output than if the market were perfectly competitive. True False In monopolistically competitive markets, the firms sell identical products. True False For a monopolist, the marginal revenue (MR) curve is the same line as the demand (D) curve. True False If marginal revenue for the 5th unit of a good is negative, then total revenue must be falling. True False Collusion is most often found among firms in...