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Suppose that the electric vehicles market is comprised of Tesla with 25% of all sales, Chevrolet with 10% of sales, Toyota with 10% of sales,

Suppose that the electric vehicles market is comprised of Tesla with 25% of all sales, Chevrolet with 10% of sales, Toyota with 10% of sales, Honda with 5% of sales, and 50 other companies with 1% of sales each.

a. What is the 4-firm concentration ratio for this industry?

b. What is the Herfindhal-Hirschman Index?

c. Do you think that the electric vehicles industry is highly concentrated?

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