Question: Which statement is true? a) Industry X has a higher Herfindahl Hirschman index than Industry Y. b) Industry Y has a higher Herfindahl

Which statement is true?

TABLE 1 Industry X 1 2 3 Market Market Firm Share (%)

a) Industry X has a higher Herfindahl – Hirschman index than Industry Y.

b) Industry Y has a higher Herfindahl – Hirschman index than Industry Z.

c) Industry Z has a higher Herfindahl – Hirschman index than Industry X.

d) Industries X, Y, and Z have the same Herfindahl-Hirschman index.

TABLE 1 Industry X 1 2 3 Market Market Firm Share (%) Firm Share (%) Firm 4 5 6 7 25 25 15 10 10 10 5 Industry Y 123456 35 20 15 15 10 5 12345 Industry Z 6 Market Share (%) 30 30 20 10 5 5

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