SIPs

question 39

Multiple Choice

SIPs:

• A)are state implementation plans for air quality standards.
• B)are enforced by the state governments.
• C)need not have EPA approval.
• D)none of the above

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Definitions:

Regional Monopoly

A regional monopoly exists when a single firm dominates the market for a particular good or service in a geographic area.

Herfindahl-Hirschman Index

A measure of market concentration that squares and then sums the market shares of all firms within an industry, indicating the level of competition.

Game Theory

A theoretical framework for conceiving social situations among competing players and for predicting their choices of strategic actions.

Open Collusion

A situation where firms openly agree on prices, production levels, or market shares, violating competition laws.