(10 Marks) (Some parts of this question could be solved using the approximation shortcut discussed last conference to save time) (No decimals in answers - answers to 0 decimal places) The golf ball manufacturing market is composed of 36 firms with market shares as specified in the table below: Firm Market Market Market Firm Market Firm Firm Share Share Share Share 1 12% 10 5% 19 0.6% 28 0.55% 2 12% 11 2% 20 0.6% 29 0.55% 3 9% 12 2% 21 0.6% 30 0.55% 9% 13 1% 22 0.6% 31 0.55% 5 8% 14 1% 23 0.6% 32 0.55% 8% 15 1% 24 0.6% 33 0.55% 7% 16 0.9% 25 0.6% 34 0.53% 5% 17 0.8% 26 0.6% 35 0.53% 9 5% 18 0.7% 27 0.6% 36 10.52% What is the 4-Firm Concentration Ratio? (3.3 marks) % What is the approximate Herfindahl Index? (3.3 marks; ranges within 200 points of the exact answer would be considered correct ) What type of market is this most likely to be? (3.3 Marks) (Possible Choices: Monopoly, Oligopoly, Perfect Competition, Monopolistic Competition]