advertising, product proactivity, and also transforms in the real or perceived qualities of a product.

You are watching: The herfindahl index for a pure monopolist is:

The demand curve of a monopolistically competitive producer is:

more elastic than that of a pure monopolist, however much less elastic than that of a pure challenger.

A monopolistically competitive firm’s marginal revenue curve:

is downsloping and lies below the demand also curve.

Monopolistically competitive firms:

might realize either profits or losses in the short run but realize normal profits in the lengthy run.

Refer to the diagrams, which pertain to monopolistically competitive firms. Short-run equilibrium entailing economic loss is presented by:

diagram c only.

Refer to the diagrams, which pertain to monopolistically competitive firms. A short-run equilibrium entailing economic profits is presented by:

diagram b only.

Refer to the diagrams, which pertain to monopolistically competitive firms. Long-run equilibrium is presented by:

diagram a just.

In which of these continuums of levels of competition (highest possible to lowest) is oligopoly correctly placed?

Pure competition, monopolistic competition, oligopoly, pure monopoly.

The term oligopoly indicates:

a few firms producing either a differentiated or a homogeneous product.

Oligopolistic markets are identified by:

a few dominant firms and considerable enattempt obstacles.

The vehicle, household appliance, and auto tire industries are all illustrations of:

differentiated oligopoly

Which of the following is the ideal example of oligopoly?

Automobile manufacturing.

In which of the adhering to industry models carry out demand and also marginal revenue diverge?

Pure monopoly, oligopoly, and monopolistic competition.

Homogeneous oligopoly exists where a little variety of firms are:

developing virtually the same commodities.

Mutual interdependence indicates that each oligopolistic firm:

should consider the reactions of its rivals when it determines its price policy.

If the four-firm concentration ratio for sector X is 80:

the four biggest firms account for 80 percent of complete sales.

As a general preeminence, oligopoly exists once the four-firm concentration ratio:

is 40 percent or more.

The Herfindahl index for a pure monopolist is:


Industries X and Y both have four-firm concentration ratios of 65 percent, but the Herfindahl index for X is 1,500 while that for Y is 2,000. These information suggest:

higher sector power in Y than in X.

Assume six firms comprising an market have sector shares of 30, 30, 10, 10, 10, and also 10 percent. The Herfindahl index for this sector is:


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OPEC offers an instance of:

an worldwide cartel.

If the firms in an oligopolistic market have the right to establish an effective cartel, the resulting output and also price will approximate those of: