A Market Is Considered Competitive If the Herfindahl-Hirschman Index (HHI)is

question 85

Multiple Choice

A market is considered competitive if the Herfindahl-Hirschman Index (HHI) is ________ and its four-firm concentration ratio is ________.

• A) high; high
• B) high; low
• C) low; high
• D) low; low
• E) between 30 percent and 70 percent; greater than 5,000

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Definitions:

Endangered Species

Endangered species are organisms facing a very high risk of extinction in the wild, as classified on the International Union for Conservation of Nature (IUCN) Red List.

Global Warming

The long-term rise in Earth's average surface temperature, primarily due to human activities that increase concentrations of greenhouse gases in the atmosphere.

Carbon Dioxide

This gas is characterized by its lack of color and smell, coming from the burning of organic compounds and carbon, and from respiratory activities. It's naturally part of the ambient air and crucial for the photosynthesis process in plants.

Hydrochlorofluorocarbons

Compounds used as refrigerants, solvents, and blowing agents, less damaging to the ozone layer than CFCs but still concerning for global warming.