Use the estimated elastic-cities in Table 7??4 to calculate the Rothschild index for each industry. Based on
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Use the estimated elastic-cities in Table 7??4 to calculate the Rothschild index for each industry. Based on these calculations, which industry most closely resembles perfect competition? Which industry most closely resemblesmonopoly?
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Own Price Elasticity of Demand for Representative Firm's Product Own Price Elasticity of Market Demand Industry Agriculture Construction Durable manufacturing Nondurable manufacturing Transportation Communication and utilities Wholesale trade Retail trade -1.8 -96.2 -1.0 -5.2 -1.4 -3.5 -1.3 -3.4 -1.0 -1.9 -1.8 -1.2 -1.5 -1.6 -1.2 -1.8 -0.1 -5.5 Finance -26.4 Services -1.2 Source: Mathew D. Shapro, "Measurng Market Power In U.S. Indusiry," Notional Bureou of Economic Research, Working Paper No. 2212, 1987.
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Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
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