Table 1 shows the total revenue of the 50 firms in the tattoo industry. 1. Calculate the
Question:
Table 1 shows the total revenue of the 50 firms in the tattoo industry.
1. Calculate the four-firm concentration ratio and the HHI. What is the market structure of the tattoo industry?
2. What would the market structure of the tattoo industry be if each firm operated in a different city and the cities were spread across the nation?
3. What additional information would you need about the tattoo industry to be sure that it is an example of monopolistic competition?
4. Suppose that a new tattoo technology makes it easier for anyone to enter the tattoo market. How might the market structure change?
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1 The fourfirm concentration ratio is 467 Revenue of the four largest firms is 450 325 250 200 1225 ...View the full answer
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