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The Herfindahl-Hirschman index is equal to a) The sum of shares of purchases by the largest consumers of the industry's products
The Herfindahl-Hirschman index is equal to
a) The sum of shares of purchases by the largest consumers of the industry's products.
b) The sum of market shares of the largest firms in an industry.
c) The sum of squared market shares of all firms in the industry.
d) The sum of squared market shares of purchases by all consumers of the industry's products.
Expert Solution
The correct answer to the given question is option c) The sum of squared market shares of all firms in the industry.
The HHI (Herfindahl-Hirschman Index) for a given industry Y is given by:
- = Sum of the squares of market shares of various firms in the industry
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