Need assist with the following assignment. Submit in word document.
An industry consists of three firms with sales of $300,000, $700,000, and $250,000.
a. Calculate the Herfindahl-Hirschman index (HHI).
b. Calculate the four-firm concentration ratio.
c. Do you think the Department of Justice would attempt to block a horizontal merger between the two firms with sales of $300,000 and $250,000? Explain.