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Question 30 (2 points) The following table represents the market shares of saltine chips in the Canadian marketplace. The chip market in Canada primarily competes on price for the best distribution through retailers. _ Considering the market shares for the saltine chips in Canada, how would you characterize the competitive situation? 0 O O O With the top 3 brands representing 35% of the market, and a brand Herfindahl index of .105 this is a competitive market. With the top 4 brands representing 45% of the market and a Herfindahl index of 0.10 this is a highly competitive oligopoly. Because Frito-Piper and Mostess are the largest manufacturers with 80% market share, and the Herfindahl index is only 0.14, this is a competitive oligopoly. Since most competitors have similar market share and the top manufacturers represent 80% of the market, this is an example of monopolistic competition