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In: Economics

The chief operating officer of your company comes to you one morning with the following information...

The chief operating officer of your company comes to you one morning with the following information about firms in your industry:

                        Firm                                        Annual Sales (in millions of dollars)

            ===============================================

                        A                                             $4,200

                        B                                             2,200

                        C                                             2,300

                        D                                             4,700

                        E                                              1,000

                        F                                                   800

                        G                                                  200

                        All other firms combined                    $4 million

            a) The COO asks you to calculate the industry’s four-firm concentration ratio to discover                       whether or not the industry is competitive or concentrated. Calculate and show.

b) The next week, the COO hands you the following information about market share in a competing industry:

                        Firm                                        Market Share (%)

            ==================================

                        Z                                              20%

                        Y                                             10

                        X                                             10

                        W                                            9

                        V                                             9

                        U                                             9

                        T                                              8

                       

                        25 other firms                         1% each

            The COO asks you to calculate the HHI for the entire industry (all firms) and whether this industry is competitive, moderately concentrated, or highly concentrated. Calculate and show.   

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
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