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 Oligopoly industry Monopoly industry Perfectly competitive industry Monopolistically competitive 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 Monopolistically competitive industry Perfectly competitive industry Oligopoly 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 Monopoly industry Monopolistically competitive 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 Oligopoly industry Perfectly competitive industry Monopoly industry Monopolistically competitive industry

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Question: 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.

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

Oligopoly industry
Monopoly industry
Perfectly competitive industry
Monopolistically competitive 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

Monopolistically competitive industry
Perfectly competitive industry
Oligopoly 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

Monopoly industry
Monopolistically competitive 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

Oligopoly industry
Perfectly competitive industry
Monopoly industry
Monopolistically competitive industry

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