The Correct Ranking of the Four Basic Market Structures from Low

question 300

Multiple Choice

The correct ranking of the four basic market structures from low (Herfindahl-Hirschaman Index) HHI to high HHI is

• A) perfect competition, oligopoly, monopolistic competition, monopoly.
• B) monopoly, oligopoly, monopolistic competition, perfect competition.
• C) perfect competition, monopolistic competition, oligopoly, monopoly.
• D) monopoly, monopolistic competition, oligopoly, perfect competition.

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Definitions:

Tax Burden

The total impact of taxes on an individual or business, including the effects on income and purchasing power.

Producers

Individuals or organizations that create goods or services for sale or exchange in an economic system.

Price Paid

The amount of money exchanged for a good or service at the time of a transaction.

Excise Tax

A tax applied to specific goods, services, or activities, often with the intention of reducing their consumption or generating revenue.