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The widget industry has only 10 firms. Their market shares are as follows: 30, 20, 10, 10, 5, 5, 5, 5, 5, 5. 1. Define

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The widget industry has only 10 firms. Their market shares are as follows: 30, 20, 10, 10, 5, 5, 5, 5, 5, 5. 1. Define the HHI. 2. Calculate the HHI for this industry. 3. How would the FTC characterize concentration in this market? 4. What is the numbers equivalent for this market

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