Suppose That There Are Two Industries,A and B

question 83

Multiple Choice

Suppose that there are two industries,A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry A is:

• A) 3,200.
• B) 2,800.
• C) 1,800.
• D) 2,500.

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Definitions:

Part-time Job

Employment with fewer hours per week than a full-time position, often offering flexibility but with lesser benefits.

Professional Baseball Game

A regulated and officially sanctioned sport event featuring teams of professional baseball players.

Transportation

The process or business of moving goods and people from one place to another.

Opportunity Cost

Losing the benefits of the closest substitute when a choice is made.