Suppose That There Are Two Industries, a and B

question 82

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 B is:

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

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Definitions:

Survivorship Curve

A graph showing the number or proportion of individuals surviving to each age for a given species or group.

Type I

Often refers to a classification in various contexts, such as Type I diabetes, characterized by the body's inability to produce sufficient insulin.

Growth Rate

The rate at which a population, organism, or economic measure increases in size over a given period of time.

Exponential Growth

A process of increase in number or size, at a constantly growing rate.