Suppose there are five firms in an industry. Their sales (i.e., total revenue) are as follows:

Question:

Suppose there are five firms in an industry. Their sales (i.e., total revenue) are as follows:
• Firm 1: $90 million
• Firm 2: $50 million
• Firm 3: $36 million
• Firm 4: $14 million
• Firm 5: $10 million
Compute the Herfindahl-Hirschman Index (HHI) for this industry