1) Which statement is true? a) Collusion most likely in industries with high concentration ratios

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1) Which statement is true?

a) Collusion most likely in industries with high concentration ratios.

b) Collusion most likely in industries with low concentration ratios.

c) There is no relationship between the likelihood of collusion and the size of the concentration ratio.

2) A Herfindahl-Hirschman Index of 10,000 would mean there is (are) how many firm(s) in the industry?

a) 1.

b) 10.

c) 1,000.

d) 10,000.

3) Which statement is false?

a) Growing automobile imports have made that industry?s concentration ratio is less relevant.

b) The Japanese automobiles have reduced the concentration ratio in that industry.

c) Most cars made in the United States are made by General Motors, Ford, and Chrysler.