Question: The accompanying table presents market share data for the U.S. breakfast cereal market. Company Market share Kellogg.................................................28% General Mills...........................................28 PepsiCo (Quaker Oats)...........................14 Kraft........................................................13 Private Label...........................................11

The accompanying table presents market share data for the U.S. breakfast cereal market.

Company                              Market share

Kellogg.................................................28%

General Mills...........................................28

PepsiCo (Quaker Oats)...........................14

Kraft........................................................13

Private Label...........................................11

Other.........................................................6

a. Use the data provided to calculate the Herfindahl-Hirschman Index (HHI) for the market.

b. Based on this HHI, how would you describe the market structure in the U.S. breakfast cereal market?

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