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Assume the market shares of the six largest firms in an industry are 12% each. Calculate the six-firm concentration ratio and Herfindahl-Hirschman index for this

Assume the market shares of the six largest firms in an industry are 12% each. Calculate the six-firm concentration ratio and Herfindahl-Hirschman index for this industry. What does each of these measures have to say about the degree of concentration in the industry? Explain.

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