Question $45$

$2$ Points

As a general rule, oligopoly exists when the four$-$firm concentration ratio

equals the Herfindahl index.

is $40$ percent or more.

yields a Herfindaht index below $500.$

is $50$ percent or more

As a general rule, oligopoly exists when the four$-$firm concentration ratio

equals the Herfindahl index.

is $40$ percent or more.

yields a Herfindaht index below $500.$

is $50$ percent or more.

To the economist, total cost includes

neither implicit nor explicit costs.

explicit and implicit costs.

explicit, but not implicit, costs.

implicit, but not explicit, costs.

The relationship between quantity supplied and price is $q,$ and the relationship between quantity demanded and price is $$

direct; direct

direct; inverse

inverse; inverse

inverse; direct