Question 2 Not yet answered Marked out of 2 Flag question A monopolistically competitive industry combines elements of both competition and monopoly. The monopoly element results from Select one: O a. the likelihood of collusion. O b. high entry barriers. O c. product differentiation. O d. mutual interdependence in decision making. Next page Quiz navigationQuestion 3 Not yet answered Marked out of 2 P Flag question Firm Market Share (26) A 40 30 20 O un m Refer to the data. The Herfindahl index for this industry is Select one: O a. 95. O b. 1,000. Oc. 2,925. O d. 2,950.- - X Question 4 Not yet answered Marked out of 2 P Flag question If you sum the squares of the market shares of each firm in an industry (as measured by percent of industry sales), you are calculating the Select one: O a. four-firm concentration ratio. O b. Herfindahl index. O c. degree of collusion. O d. Lerner index. Previous page Next page Quiz navigationMoodle X