Question: Please explain your work thanks. The above table shows the market share of 7 firms in the cookies industry. Answer the following questions and show

Please explain your work thanks. The above table

Please explain your work thanks.

The above table shows the market share of 7 firms in the cookies industry. Answer the following questions and show mathematical work to receive points. 1. (2 points) Calculate the HHI for this industry. What kind of market structure is indicated by the HHI ? 2. (2 points) Calculate the Four-Firm Concentration Ratio. What kind of market structure is indicated by the Four-firm ratio? 3. (2 points) If Gary's Gourmet wanted to merge with Travis' Treats, according to the Federal Trade Commission (FTC) guidelines, would the FTC challenge the merger, why

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