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The widget industry is comprised of six firms of varying sizes. Firm 1 has 35 percent...

The widget industry is comprised of six firms of varying sizes. Firm 1 has 35 percent of the market. Firm 2 has 25 percent, and the remaining firms have 10 percent each. What is the Herfindahl-Hirschman index for the widget industry? Explain and show your work. (4) Based on the U.S. Department of Justice merger guidelines described in the text, do you think the Justice Department would be likely to block a merger between firms 5 and 6? Explain and show your work.

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Rahul Sunny answered 7 months ago
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