1. Explain why the way a market is defined is important. 2. State the problems associated with...

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1. Explain why the way a market is defined is important.
2. State the problems associated with using concentration ratios to gauge the amount of competition in an industry.
3. Explain what advantage the Herfindahl index has over the four- and eight-firm concentration ratios.
4. State the problem that the Herfindahl index has in common with concentration ratios.
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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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