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3. (5 points) An industry is comprised of 15 rms, each with an equal market share (each rm's 1 market share is (E) of the

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3. (5 points) An industry is comprised of 15 rms, each with an equal market share (each rm's 1 market share is (E) of the total market for the product produced in that industry). (a) Please calculate the four-rm concentration ratio (C4) of this industry and show your calculations. (b) Please calculate the Herndahl-Hirschman index (HHI) and show your calculations

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