Consider two industries, industry X and industry Y. In industry X there are six companies, where one company has 25% market share and each of the other ve companies has a market share of 15%. In industry Y there are four companies, where one company has 70% market share and each of the other three companies has a market share of 10%. Based on the above information, (a) calculate the two-rm concentration ratio for each industry. [3 marks] (b) calculate the Herndahl index for industry X. [3 marks]