Suppose there is an industry with a total 10 firms, each with a market share of 10%. Given this information, which one of the following statements regarding the Herfindahl- Hirschman Index (“HHI”) is true?
A. The HHI is less than 7000 but greater than 5000.
B. The HHI is less than 5000 but greater than 3000.
C. The HHI is less than 3000 but greater than 1000.
D. The HHI is less than 100 but greater than zero.
E. None of the statements in A—D are true.