PART 1: -300 POINTS In the United States, mergers \& acquisitions normally need the approval of the Federal Trade Commission (FTC) to close a deal. You are a member of the Federal Trade Commission. You and your team are responsible for delivering a decision to either anerove or block the pending acquisition of Pioneer Resources. Prior to doing any math, please describe your initial view. Your answer should either approve or block the transaction. Please provide support of your decision. PART 2: - 300 POINTS Market share information: - Excon's daily 2023 crude oil production is 2.4 million barrels - Pioneer Resources daily 2023 crude oil production is 375,000 barrels - United States dally crude oil production is 12 million barrels - Global daily crude oil production is 100 million barrels - S. Consumers use 20 million barrels daily Based on this information, please use the Herfindahl-Hirschman Index (HHI) to determine if you would either aporove or block the pending deal. Please study and apply the HHI methodology to reach your decision