if you want to remove an article from website contact us from top.

    which of the following four-firm concentration ratios would be the best indication of a perfectly competitive industry?

    Mohammed

    Guys, does anyone know the answer?

    get which of the following four-firm concentration ratios would be the best indication of a perfectly competitive industry? from screen.

    Econ Ch 17 Flashcards

    Study with Quizlet and memorize flashcards containing terms like In the long run in monopolistic competition, firms, If firms in monopolistic competition are earning economic profits, eventually, In monopolistic competition, the entry of new firms and more.

    Econ Ch 17

    4.5 (2 reviews) Term 1 / 25

    In the long run in monopolistic competition, firms

    Click the card to flip 👆

    Definition 1 / 25

    make zero economic profit

    Click the card to flip 👆

    Created by alicia_nicole_king

    Terms in this set (25)

    In the long run in monopolistic competition, firms

    make zero economic profit

    If firms in monopolistic competition are earning economic profits, eventually

    new firms enter the industry

    In monopolistic competition, the entry of new firms

    shifts existing firms' demand curves leftward

    If firms in monopolistic competition are earning economic profits, then

    new rivals enter the industry and the demand for any seller's good decreases

    When firms in monopolistic competition incur an economic loss, some firms will

    exit the industry, and demand will increase for the firms that remain

    IN the long run, firms in monopolistic competition produce at a level that is ... the efficient scale of output.

    less than

    for a firm in monopolistic competition, the efficient scale is the amount of output at which ... is a minimum.

    average total cost

    Excess capacity exists when a firm produces

    less than the quantity the minimizes average total cost

    One of the major benefits to society of monopolistic competition is

    product differentiation

    In the long run, a firm in monopolistic competition ... a markup of price over marginal cost and a firm in perfect competition ... a markup of price over marginal cost.

    had; does not have

    Monopolistic competition is defined as a type of market structure in which

    many firms produce a good

    What does monopolistic competition have in common with perfect competition?

    a large number of firms and freedom of entry and exit

    In monopolistic competition, the products of different sellers are

    similar but slightly different

    A differentiated product has

    close but not perfect substitutes

    Which of the following four-firm concentration ratios would be the best indication of a perfectly competitive industry?

    2 percent

    Which of the following four-firm concentration ratios is consistent with monopolistic competition?

    25 percent

    If the four-firm concentration ratio for the market for diapers is 73 percent, then this industry is best characterized as

    an oligopoly

    What is the four-firm concentration ratio if the four largest firms in an industry account for 5 percent, 6 percent, 7 percent, and 8 percent of total revenue?

    26 percent

    the square of the percentage market share of each firm summed over the 50 largest firms in a market is the

    Herfindahl-Hirshman Index

    The Herfindahl-Hirschman Index measures market concentration in an industry by summing the square of the percentage market shares for

    the 50 largest firms

    the Herfindahl-Hershman Index is the ... of the percentage market share of each firm summed over the largest 50 firms in a market.

    square

    If the Herfindahl-Hirschman Index in the market for single-use cameras equals 10,000, then the single-use camera industry is best characterized as

    a monopoly

    If the HHI for the widget industry is 1200, then the market structure is

    monopolistic competiton

    If there are four-firm in an industry with market shares of 50 percent, 40 percent, 5 percent, and 5 percent, the Herfindahl-Hirschman Index is

    4150

    A market is considered competitive if the Herfindahl-Hirschman Index is ... and its four-firm concentration ratio is ...

    low; low

    Students also viewed

    Chapter 17 Monopolistic Competition ECON 2302

    50 terms Images ruizpaola17 PLUS

    eco chapter 17 exam 3

    47 terms Images elainecruzh Worksheet 17 25 terms yleina_montenegro Worksheet 18 30 terms yleina_montenegro

    Sets found in the same folder

    Microeconomics Chapter 7

    23 terms ChelseaJustice2021 Chapter 17- ECON 15 terms saul13salinas Chapter 17 and 18 42 terms heidysantana17 ECO2314 Chap 11 Q&A 42 terms lovelycat437

    Other sets by this creator

    Mgmt 431 Test 3 123 terms alicia_nicole_king Mgmt 431 Test 2 97 terms alicia_nicole_king Mktg 350 40 terms alicia_nicole_king MGMT 481 chapter 4 70 terms alicia_nicole_king

    Verified questions

    Economics

    "Even though changes in government spending mainly affect the demand side of the economy, a change in taxes can affect both the demand side and the supply side." Do you agree or disagree? Explain.

    Verified answer Economics

    What are the advantages and disadvantages of trade associations trying to influence legislation?

    Verified answer Economics

    How is the demand curve perceived by a perfectly competitive firm different from the demand curve perceived by a monopolist?

    Verified answer Economics

    Place each of the following transactions in one of the four components of expenditure: consumption, investment, government purchases, and net exports. a. Apple sells a computer to a public school in Paris, Kentucky. b. Apple sells a computer to an accounting firm in Paris, Illinois. c. Apple sells a computer to a bakery in Paris, France. d. Apple sells a computer to Paris Hilton. e. Apple builds a computer to be sold next year.

    स्रोत : quizlet.com

    Answered: Which of the following four

    Solution for Which of the following four - firm concentration ratios would be the best indication of a perfectly competitive industry? O A. 2 percent B. 78…

    Skip to main content

    Start your trial now! First week only $6.99!

    Literature guidesConcept explainersWriting guidePopular textbooksPopular high school textbooksPopular Q&ABusinessAccountingEconomicsFinanceLeadershipManagementMarketingOperations ManagementEngineeringBioengineeringChemical EngineeringCivil EngineeringComputer EngineeringComputer ScienceElectrical EngineeringMechanical EngineeringLanguageSpanishMathAdvanced MathAlgebraCalculusGeometryProbabilityStatisticsTrigonometryScienceAdvanced PhysicsAnatomy and PhysiologyBiochemistryBiologyChemistryEarth ScienceHealth & NutritionNursingPhysicsSocial ScienceAnthropologyGeographyHistoryPolitical SciencePsychologySociology

    Business Economics

    Which of the following four - firm concentration ratios would be the best indication of a perfectly competitive industry? O A. 2 percent B. 78 percent C. 100 percent O D. 50 percent E. 31 percent

    Which of the following four - firm concentration ratios would be the best indication of a perfectly competitive industry? O A. 2 percent B. 78 percent C. 100 percent O D. 50 percent E. 31 percent

    Question F20

    Transcribed Image Text:Which of the following four – firm concentration ratios would be the best indication of a perfectly competitive industry? A. 2 percent B. 78 percent OC. 100 percent D. 50 percent O E. 31 percent MacBook Pro esc 80 000 1 @ 2$ & 1 2 3 4 w # < CO

    Expert Solution

    Want to see the full answer?

    Check out a sample Q&A here

    SEE SOLUTION

    Students who’ve seen this question also like:

    ENGR.ECONOMIC ANALYSIS

    Making Economics Decisions. 1QTC

    Want to see this answer and more?

    Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

    *Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.

    Related Economics Q&A

    Find answers to questions asked by students like you.

    Q: Which of the following two types of unemployment occur even when the economy is healthy and growing?…

    A: Answer : The right answer is option (c) frictional and structural unemployment. Frictional…

    Q: A projet cost $500000 and yield annually a profit of $80000 after depreciation @ 12 % p.a but before…

    A: Payback period is the the amount of time it takes to recover the cost of an investment , Here we…

    Q: T = 20 + 0.2 × Y T R = 10 − 0.1 × Y where Y is national income. The basic consumption function is…

    A: Click to see the answer

    Q: The graph shows the cost curves, demand curve, and marginal revenue curve of a firm in monopolistic…

    A: Monopolists would like to maximize the profit by producing at a unit where Marginal Revenue is equal…

    Q: Saudi Arabia is an oil exporting country. AD : Y = 710 − 30P + 5G+3Poil, AS : Y = 10 + 5P − 2Poil…

    A: Click to see the answer

    Q: Consider the production possibilities frontier (PPF) shown in the graph below to answer the next…

    A: Production possibilities frontier shows different combinations of two goods that can be produced…

    Q: Which of the following statements concerning profit-maximizing firms in long-run equilibrium is…

    A: A firm maximizes profit by producing at a point where marginal revenue is equal to marginal cost

    Q: H6. Which of the following transactions should or should not be counted in GDP? Answer why or why…

    A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

    Q: Explain any three types of price elasticity of demand and any three types of price elasticity of…

    A: Concept of elasticity of demand is used in economics to calculate the change in a variable due to…

    Q: 24. Determine the present worth of a maintenance contract that has a cost of $30000 in year 1 and…

    A: In economics and finance, present worth, conjointly brought up as present discounted worth, is that…

    Q: When Japan experiences unexpected high inflation a) The bank of Japan shouldn't intervene because…

    A: In an economy, inflation is considered as the change in the market value of goods, services, and any…

    Q: True or false A second order control is unrelated to macro level organizational behavior

    A: The first derivative with regard to time is the first order of the system. The second derivative…

    Q: A change in the quantity of aggregate demand due to a change in the price level and a resulting…

    A: In a market, any change in ove economic variable has a significant change in another economic…

    Q: Deadweight loss is defined as O a) the dollar cost of a tax per unit of sale. O b) the cost to…

    A: In perfectly competitive market, there is no deadweight loss. Market structures like monopoly and…

    Q: Jsing the sinking fund formula or a financial calculator, complete the following: (Do not round…

    A: Click to see the answer

    Q: 21. If taxes a. increase, then consumption increases, and aggregate demand shifts leftward. b.…

    A: Click to see the answer

    स्रोत : www.bartleby.com

    Which of the following four firm concentration ratios would be the best

    Which of the following four firm concentration ratios would be the best from ECONOMIC 501 at Solomon Islands National University

    Which of the following four firm concentration ratios

    Solomon Islands National University

    ECONOMIC 501 AgentFangWallaby20 10

    This preview shows page 1 - 3 out of 10 pages.

    9.Which of the following four-firm concentration ratios would be the best indication of aperfectly competitive industry?A) 2 percent

    1

    Related Textbook Solutions

    See more Solutions

    ©

    Principles of Microeconomics

    Mankiw Solutions

    ©

    Principles of Macroeconomics

    Mankiw Solutions

    © Macroeconomics Hubbard/O'Brien Solutions

    © Economics Brue/McConnell Solutions

    © Economics Today Miller Solutions

    ©

    Essentials of Economics

    Brue/McConnell Solutions

    ©

    Economics Today: The Macro View

    Miller Solutions

    ©

    Economics Today: The Micro View

    Miller Solutions

    © Microeconomics Krugman/Wells Solutions

    ©

    Economics, Brief Edition

    Brue/McConnell Solutions

    ©

    Exploring Microeconomics

    Sexton Solutions

    © Macroeconomics Parkin Solutions

    © Microeconomics Parkin Solutions

    © Exploring Economics Sexton Solutions

    © Microeconomics Brue/McConnell Solutions

    ©

    The Macro Economy Today

    Gebhardt/Schiller Solutions

    © Economics Hubbard/O'Brien Solutions

    ©

    Essentials of Economics

    Hubbard/O'Brien

    Upload your study docs or become a

    Course Hero member to access this document

    Upload your study docs or become a

    Course Hero member to access this document

    End of preview. Want to read all 10 pages?

    Upload your study docs or become a

    Course Hero member to access this document

    Term Summer Professor NoProfessor Tags

    Economics, Monopoly, Oligopoly, Perfect Competition, Kevin Trains

    Report

    Students also studied

    Bookmarked 0 Recently viewed

    ECONOMIC 501

    Tutorial 7 Questions.docx

    Viewing now

    Interested in Tutorial 7 Questions.docx

    ?

    Bookmark it to view later.

    Other Related Materials

    Other Related Materials Newly uploaded documents

    9 pages

    "WK3AssgNodarseRodriguezY.(extension)".docx

    14 pages

    NUTR FOOD 4090 - Functional Foods and Nutraceuticals Syllabus - W2022 - Final .pdf

    5 pages

    Who Do You Say Jesus Is?.docx

    स्रोत : www.coursehero.com

    Do you want to see answer or more ?
    Mohammed 4 day ago
    4

    Guys, does anyone know the answer?

    Click For Answer