Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 27 percent, 26 percent, 23 percent, 11 percent, 7 percent, 4 percent, and 2 percent. Instructions: Enter your answers as a whole number. a. What is the four-firm concentration ratio of the hamburger industry in this town? 0.87 percent b. What is the Herfindahl index for the hamburger industry in this town? 2124 O c. If the top three sellers combine to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl index? Four-firm concentration ratio = 0.98 8 percent Herfindahl index = 5966|

Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 27 percent, 26 percent, 23 percent, 11 percent, 7 percent, 4 percent, and 2 percent. Instructions: Enter your answers as a whole number. a. What is the four-firm concentration ratio of the hamburger industry in this town? 0.87 percent b. What is the Herfindahl index for the hamburger industry in this town? 2124 O c. If the top three sellers combine to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl index? Four-firm concentration ratio = 0.98 8 percent Herfindahl index = 5966|

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter9: Monopolistic Competition And Oligoply

Section: Chapter Questions

Problem 11SQP

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