Which of the following explains how to use the Herfindahl-Hirschman Index?
a. Summing the squares of the market share of each firm in the industry
b. Calculating each firm’s share of the total sales in the industry
c. Multiplying the squares of the market share of each firm in the industry
d. Dividing each firm’s share of total industry sales by the firm’s sales
a. Summing the squares of the market share of each firm in the industry
The Herfindahl-Hirschman Index involves summing the squares of the market share of each firm in the industry.
Economics
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