Question
Asked Aug 7, 2019
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The table represents the market share of the 10 largest steel producers
Market Share (%)
Firm
23,1
1
16.8
2
13,0
3
9.4
4
8
5
7.5
6
6.4
7
5
8
4
1
10
What is the four-firm concentration ratio for the steel industry represented in the table?
four-firm concentration ratio:
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The table represents the market share of the 10 largest steel producers Market Share (%) Firm 23,1 1 16.8 2 13,0 3 9.4 4 8 5 7.5 6 6.4 7 5 8 4 1 10 What is the four-firm concentration ratio for the steel industry represented in the table? four-firm concentration ratio:

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Expert Answer

Step 1

The concentration ratio can be calculated by using the Hirschman Herfindal Index. The Hirschman Herfindal index formula is given below.

Step 2

Substitute the respective value to above equation to c...

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HHI S +..+S

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