Business, 18.06.2021 01:00 MsShreve9939
Based on the information given, indicate whether the following industry is best characterized by the model of perfect competition, monopoly, monopolistic competition, or oligopoly. a. Industry A has a four-firm concentration ratio of 0.005 percent and a Herfindahl-Hirschman index of 75. A representative firm has a Lerner index of 0.45 and a Rothschild index of 0.34. multiple choice 1 Perfectly competitive industry Monopoly industry Monopolistically competitive industry Oligopoly industry b. Industry B has a four-firm concentration ratio of 0.0001 percent and Herfindahl-Hirschman index of 55. A representative firm has a Lerner index of 0.0034 and Rothschild index of 0.00023. multiple choice 2 Oligopoly industry Perfectly competitive industry Monopolistically competitive industry Monopoly industry c. Industry C has a four-firm concentration ratio of 100 percent and Herfindahl-Hirschman index of 10,000. A representative firm has a Lerner index of 0.4 and Rothschild index of 1.0. multiple choice 3 Monopolistically competitive industry Monopoly industry Perfectly competitive industry Oligopoly industry d. Industry D has a four-firm concentration ratio of 100 percent and Herfindahl-Hirschman index of 5,573. A representative firm has a Lerner index equal to 0.43 and Rothschild index of 0.76. multiple choice 4 Monopolistically competitive industry Oligopoly industry Monopoly industry Perfectly competitive industry
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