In a particular industry, there are ten firms with the following market shares: Firm 1 has an 29% market share, Firm 2 has a 22% market share, Firm 3 has a 17% market share, and Firm 4 has a 14% market share, and Firm 5 has 7% market share. The market share of each of the other five remaining firms is 0.2*(100-(29+22+17+14+7))%. Calculate the Herfindahl-Hirschman Index for this industry.

Answer rating: 100% (QA)

The HerfindahlHirschman Index HHI is a commonly used measure of market concentration It is calc... View the full answer