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%, 26%, 23%, 11%, 7%, 4%, and 2%. Instructions: Enter your answers as whole numbers. What is the four-firm concentration ratio of the hamburger industry in this town? 0%. What is the Herfindahl index for the hamburger industry in this town? If the top three sellers combined to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl index? The four-firm concentration ratio would be 0%.
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- Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 23 percent, 22 percent, 18 percent, 12 percent, 11 percent, 8 percent, and 6 percent. Instructions: Enter your answers as a whole number. a. What is the four-firm concentration ratio of the hamburger industry in this town? percent b. What is the Herfindahl index for the hamburger industry in this town? 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 = percent Herfindahl index =Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent, 9 percent, and 8 percent. The four-firm concentration ratio for the hamburger industry in this town is 73 percent. (Enter your response as a whole number.) The Herfindahl index for the hamburger industry in this town is (Enter your response as a whole number.)Suppose that the top six firms in an industry have total annual sales of $250 billion, $210 billion, $150 billion, $120 billion, $80 billion, and $60 billion, respectively. Instructions: Round your answers to the nearest whole number. a. What is the four-firm concentration ratio for this industry? percent b. What is the Herfindahl index for this industry? (Hint: To find the Herfindahl index, you will need to compute the percentage market share for each firm in the industry. When calculating market share, do not round your intermediate calculations.)
- Suppose that the six firms in industry A have annual sales of 40, 35, 12, 5, 5, and 3 percent of total industry sales. For the six firms in industry B, the figures are 35, 18, 15, 14, 10, and 8 percent. b. Calculate the four-firm concentration ratio and the Herfindahl index for each industry and compare their likely competitiveness. Instructions: Enter your answers as whole numbers. Industry A four-firm concentration ratio = Industry A Herfindahl index = Industry B four-firm concentration ratio = Industry B Herfindahl index = c. Industry A will be ________ (more/less) competitive than industry B. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Suppose that the top six firms in an industry have total annual sales of $150 billion, $100 billion, $90 billion, $60 billion, $50 billion, and $10 billion, respectively. Instructions: Round your final answers to the nearest whole number. a. What is the four-firm concentration ratio for this industry? percent b. What is the Herfindahl index for this industry? ces c. Suppose another industry has a Herfindahl index of 1,500. Are firms in the second industry likely to have more or less market power? (Click to select)Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 18 percent, 24 percent, 20 percent, 11 percent, 10 percent, 9 percent, and 8 percent. The four-firm concentration ratio for the hamburger industry in this town is percent. (Enter your response as a whole number.) The Herfindahl index for the hamburger industry in this town is (Enter your response as a whole number.) Suppose the top three sellers combined to form a single firm. The four-firm concentration ratio would be percent. (Enter your response as a whole number.) Suppose the top three sellers combined to form a single firm. The Herfindahl index would be (Enter your response as a whole number.)
- The following table presents information on the production of five firms that produce all of the output in an industry. Firm A B с D E Output (units) 900 900 900 100 100 Instructions: Round your answers to two decimal places. a. What is the four-firm concentration ratio for this industry? b. What is the Herfindahl-Hirschman Index for this industry?Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 23 percent, 22 percent, 18 percent, 12 percent, 11 percent, 8 percent, and 6 percent. What is the four-firm concentration ratio of the hamburger industry in this town? What is the Herfindahl index for the hamburger industry in this town? If the top three sellers combined to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl indexCalculate the four-firm concentration ratio (CR-4) given the sales data. Assume that the firms listed are the only firms in this market. Sales (millions of dollars) 7.4 7.1 6.8 6.2 5.3 4.2 What is the four-firm concentration ratio? Round to the nearest whole percent in your calculations. Retailer Dap American Jaybird Expressive LA & Company Forever 22 Limitless four-firm concentration ratio: 28
- Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent, 9 percent, and 8 percent. The four-firm concentration ratio for the hamburger industry in this town is 73 percent. (Enter your response as a whole number.) The Herfindahl index for the hamburger industry in this town is 1658. (Enter your response as a whole number.) Suppose the top three sellers combined to form a single firm. The four-firm concentration ratio would be percent. (Enter your response as a whole number.)Suppose that a small town has six burger shops whose respective shares of the local market are (as percentages of all hamburgers sold): 26%, 20%, 18%, 14%, 12%, 10%, What is the four-firm concentration ratio of the hamburger industry and what is the Hirchmann Herfindahl Index (HHI) for the hamburger industry in this town?The following table presents information on the production of five firms that produce all of the output in an industry. Firm Output (units) A 600 B 600 C 500 D 500 E 500 Instructions: Round your answers to two decimal places. a. What is the four-firm concentration ratio for this industry? % b. What is the Herfindahl-Hirschman Index for this industry?