Economics (MindTap Course List)
Solutions
Economics (MindTap Course List)
Suppose that 20 firms are in an industry and that each firm has a 5 percent market share. What is the four-firm concentration ratio for this industry? What is the Herfindahl index?
Determine the four-firm concentration ratio and Herfindahl index.
The four-firm concentration ration can be calculated using the formula as follows:
Herfindahl index can be calculated using the formula as follows:
Here
Assume 20 firms are there in an industry and each firm has the market share of 5 percent.
Use Equation -1 to calculate the four-firm concentration ratio as follows:
Therefore, the four-firm concentration ratio is 20%.
Use Equation -2 to calculate Herfindahl index as follows:
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