Complete the following problem :The attached table represents the market share of the top eight firms in a hypothetical industry in 2006 and 2011.Calculate the four-firm concentration ratios for 2006 and 2011. Analyze the industry changes during this five-year period.Calculate the eight-firm concentration ratios for 2006 and 2011. Does this index give you any different indication about changes in the industry over the same period?Calculate the Herfindahl-Hirschman Indexes for 2006 and 2011. What information does this index tell you about changes in the industry? How does this information differ from the four-firm and eight-firm indexes?Hypothesize what you think might have happened to supply, demand, and price of products in this industry from 2006 to 2011. Use charts, if appropriate, to illustrate your response.
5-4 Homework: Problem
Set Data
Firm
Market Share 2006
Market Share 2011
A
10%
32%
B
8%
5%
C
12%
12%
D
20%
29%
E
21%
9%
F
2%
1%
G
5%
4%
H
6%
2%
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