Answer:
374
Explanation:
Data provided in the question:
Market shares of top six firms
10%, 8%, 8%, 5%, 5%, and 4%
Market shares of 20 firms = 2%
Now,
Herfindahl index = ∑[(Market share percentage of each of firms)² ]
or
Herfindahl index
= ∑[(Market share of each of top six firms)² ] + [20 × (market share of each remaining firm)²]
Herfindahl index = (10)² + (8)² + (8)² + (5)² + (5)² + (4)² + [20 × (2)²]
or
Herfindahl index = 100 + 64 + 64 + 25 + 25 + 16 + 80
or
Herfindahl index = 374
The herfindahl index for this industry is 374.
In the long run, the most important factor shifting the SRAS curve is productivity growth.
<h3>
What do you mean by productivity growth?</h3>
Productivity—in economic terms—is how much output can be produced with a given quantity of labor. One measure of this is output per worker, or GDP per capita.
Since 1947, the U.S. corporate sector has been able to create nine times more goods and services with only a little increase in labor hours thanks to productivity gains. An economy may create and consume more goods and services for the same amount of effort when productivity is growing.
Productivity is a way of thinking and a condition of being. Being effective entails acting in every situation as we actively choose to and not as we feel pressured to by external factors. Being productive requires adopting a mindset of constant development.
Learn more about productivity growth here
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Answer:
D
Explanation:
A change in quantity supplied is as a result of a change in the price of the good. This change in the price leads to a movement along the supply curve. If price increases, there is an upward movement up along the supply curve and if there is a decrease in price, there is a movement down the demand curve.
A change in supply is caused by other factors other than price. Some of these factors include :
- A change in the number of suppliers
- The cost in the price of raw materials needed in the production of the good.
A change in supply leads to a movement outward or inward
The essential elements of a great presentation include having a clear objective, useful to your audience, well-rehearsed, presentation deck uses as little text as possible, your contact information is clearly featured, and includes a call-to-action.
To obtain (goods or a service) from an outside or foreign supplier.