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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Does either the four-firm concentration ratio or the HHI directly measure the amount of competition in an industry? Why or why not?

To determine

Does either the four firm concentration ratio or a Herfindahl - Hirschman Index(HHI) directly measure the extent of competition an industry?

Explanation

Herfindal-Hirschman index (HHI) is summation of square of the market share of each firm and adding them.

HHI = S12+ S22+ S32+ S42+.........+ Sn2 , where S is the market share of each firm

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