Question: The accompanying table presents recent market share data for the U.S. breakfast cereal market. Company Market Share Kellogg 30% General Mills 26 PepsiCo (Quaker Oats)

The accompanying table presents recent market share data for the U.S. breakfast cereal market.
Company Market Share
Kellogg………………………… 30%
General………………………… Mills 26
PepsiCo………………………… (Quaker Oats) 14
Kraft…………………………… 13
Private Label…………………… 11
Other…………………………… 6
a. Use the data provided to calculate the Herfindahl-Hirschman Index (HHI) for the market.
b. Based on this HHI, what type of market structure is the U.S. breakfast cereal market?

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