Question: Answer questions ac on HHI. a. What would the HHI be for an industry made up of one firm with 30 percent of the market,

Answer questions a–c on HHI.
a. What would the HHI be for an industry made up of one firm with 30 percent of the market, and 14 firms, each with 5 percent of the market?
b. What would the HHI be if two of the firms with 5 percent of the market merge?
c. What would the HHI be if the large (30 percent share) firm merged with one of the smaller (5 percent share) firms?

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