You Are Studying for Your Exam When the Electricity Goes

question 75

Multiple Choice

You are studying for your exam when the electricity goes out.In order to have enough light to read your textbook,you put your cell phone in front of the page and use the light from the screen to read the book.You are able to successfully study for your exam because you avoid

• A) restructuring the problem.
• B) functional fixedness.
• C) working backward.
• D) using analogies.

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Definitions:

Differentiated Oligopolists

Firms within an oligopoly market structure that sell products or services that are distinguishable from each other through branding, quality, or other features.

Herfindahl Index

A measure of market concentration that squares and sums the market share percentages of all firms within an industry.

Four-Firm Concentration Ratio

The four-firm concentration ratio is a measure used to assess the competitiveness of a market by calculating the combined market share of the four largest firms within an industry.

Herfindahl Index

A measure of the size of firms in relation to the industry and an indicator of the competition level among them.