Multiple Choice
Industries X and Y both have four-firm concentration ratios of 63 percent, but the Herfindahl index for X is 1,273, while that for Y is 1,197. These data suggest
A) greater market power in Y than in X.
B) greater market power in X than in Y.
C) both industries are monopolistically competitive.
D) that price competition is stronger in X than in Y.
Correct Answer:
Verified
Correct Answer:
Verified
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