Question: Please complete with explanation . Consider a market with 10 firms. . The market shares are 45.5%, 15%, 12.4%, 11.2%, 6.7%, 3.3%, 2.3%, 1.4%, 1.2%,

Please complete with explanation

. Consider a market with 10 firms. . The market shares are 45.5%, 15%, 12.4%, 11.2%, 6.7%, 3.3%, 2.3%, 1.4%, 1.2%, and 1%, respectively. . The CR4 and CR8 for this market are 84.1 and 97.8, respectively. (a) Calculate the Herfindahl-Hirschman Index for this market. (Round to two decimal places.) (b) Calculate the numbers equivalent for this market. (Round to two decimal place.) CHECK

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