If an Industry's Herfindahl-Hirschman Index Is Less Than 1, the Industry

question 303

Multiple Choice

If an industry's Herfindahl-Hirschman Index is less than 1, the industry is likely to be

• A) competitive.
• B) an oligopoly.
• C) a monopoly.
• D) technologically inefficient.

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Definitions:

Easements

Rights granted to use the property of another for a specific purpose, such as right of way.

Fixtures

Items that are originally personal property but become real property when attached in a permanent manner to land or a building.

Lost Property

Property that is found where it appears to have been left unintentionally, such as items lost by their rightful owner.

Mislaid Property

Items that the owner has intentionally placed somewhere but then forgotten, differentiating from lost or abandoned property.