l. (5 points) Based on United States Census Bureau data for 2017, for the utilities (electricity and gas) industry the four fnm concentration ratio (C4) is 16.2 percent and the Herndahl Hirschrnan index is 161.4. Why might the actual concentration, and therefore market power enjoyed by a specic utility company in a state, be greater than what is indicated by these numbers? These ratios are calculated for the entire country, and not for a specic city or state. Please give an explanation. 2. (5 points) A few years ago, T-mobile and Sprint, which were at that time the third and fourth largest cell phone service providers in the United States merged to form the compnay that is now called T-Mobile. Please make an argument that this merger, even though it reduced the number of large cell phone service providers from 4 to 3, actually led to an increase in competition in the industry. You must give an explanation