2 Suppose that nine grocery shops have market share in the local clothing market as 7, 12, 3, 14, 20, 16, 11, 8 and 9 percent (as percentages of total quantity of clothes sold). What is the fourfirm concentration ratio and HHI? What is the type of concentration? Why? 2 marks Four Firm Concentration Ratio: HHI = Type of concentration: If the top 3 sellers combined to form a single firm, what would happen to the fourfirm concentration ratio and to the HHI? Is there any change in the type of concentration? Why? 2 marks Four Firm Concentration Ratio: HHI = Type of concentration Please answer the questions step by step with an explanation and organize it properly