question archive The table below shows the sales of 50 firms that make up the TATOO industry
The table below shows the sales of 50 firms that make up the TATOO industry
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The table below shows the sales of 50 firms that make up the TATOO industry.
(A) Calculate the four-firm concentration ratio.
(B) Calculate the Herfindahl-Hirschman Index (HHI).
(C) What is the structure of the TATOO industry?
(D) Suppose a change in the TATOO industry makes it easier for anyone to enter the industry. How might this change influence the market?
| Firm | Sales ($) |
|---|---|
| Bright Spots | 450 |
| Freckles | 325 |
| Love Galore | 250 |
| Native Birds | 200 |
| Next 16 firms (each) | 50 |
| Next 30 firms (each) | 20 |
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