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Question $7$ of $21$

$\backslash$table$[[,$Firm name,Market share $(\%)],[$Taylor$,34],[$Dean$,32],[$Ibanez$,14],[$Gibson$,20]]$

Calculate the Herfindahl$-$Hirschman Index $($HHI$)$ for this market.

If Taylor and Ibanez decided to merge, what action would the Federal Trade Commission $($FTC$)$ most likely take? The FTC whtuld issue a warning that the market is becoming too concentrated.

The FTC would likely not challenge the merger.

The FTC would challenge the merger because it raises the index by more than $50$ points.

The FTC would challenge the merger automatically because the original index is so high.