You are the manager in a market composed of eight firms, each of which has a 12.5 percent market share. in addition, each firm has a strong financial position and is located within a 100-mile radius of its competitors. instruction: enter your responses rounded to the nearest penny (two decimal places). a. calculate the premerger herfindahl-hirschman index (hhi) for this market. b. suppose that any two of these firms merge. what is the postmerger hhi? c. based only on the information contained in this question and on the u. s. department of justice horizontal merger guidelines described in this chapter, do you think the justice department would attempt to block a merger between any two of the firms?

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1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.