Determine herfindahl-hirschman index for widget industry


The mallet industry is comprised of six firms of varying sizes. Firm 1 has 35 percent of the market. Firm 2 has 25 percent, and the remaining firms have 10 percent each. What is the Herfindahl-Hirschman index for the widget industry? Do you think the Justice Department would be likely to block a merger between firms 5 and 6?

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Microeconomics: Determine herfindahl-hirschman index for widget industry
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