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1.Consider the following information domestic sales of cell phones: Firm Percent of Industry Sales Apple 43.9 Samsung 28.4 LG 9.7 HTC 3 Motorola 4.8 Other

1.Consider the following information domestic sales of cell phones:

Firm

Percent of Industry Sales

Apple

43.9

Samsung

28.4

9.7

HTC

Motorola

4.8

Other (multiple firms)

a.What is the four-firm concentration ratio for this industry?

b.What does this ratio suggest about competition in the cellphone industry?

c.Now suppose that Apple and Samsung merged to form one company. How would the concentration ratio change? Do you think the change in concentration ratio adequately reflects the change in competition?

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