The largest Herfindahl-Hirschman Index that an industry can get is <u>10,000 </u>and the only industry this is possible in is a Monopoly.
The Herfindahl-Hirschman Index (HHI) is calculated by summing the squares of the market shares of the various companies in an industry.
In a monopoly, a company could have a 100% market share. When this happens, the HHI would be:
= 100 ²
= 10,000
In conclusion, the highest HHI is 10,000 and this can only happen in a monopoly.
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Answer:C. Face cream must not be processed further because cost increase more than revenue.
Explanation:
The bottle of face cream cost $11 to the firm at a sales price of $15 bringing in a profit of $4, however if the firm decided to process the cream bottle further into sunscreen it will incur additional cost of $16 which brings the total cost to $27 and it can only be sold for $26 which brings a loss of $1 invariably cost is greater than revenue.
In my own words, i’d say conformance means people following and complying with rules, standards, and laws.
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Answer:
Alex is part of the labor force, John is also part of the labor force.
Explanation:
The labor force includes all those that are currently employed and those that are unemployed but searching for a job. The labor force does not consider the unemployed that are not searching for jobs.
With this understanding, Alex is part of the labor force because he applied to be a realtor. This indicates that even though he is currently unemployed and has not responded to interview requests from banks, he is interested in working as a realtor.
John is also considered to be part of the labor force, the only difference here is that he is now working part-time at the library, whereas, he worked as a full-time teacher.
Therefore, both Alex and John are part of the labor force
