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Use the information in the table below. Percentage of sales Industry 1 Industry 2 Industry 3 Industry 4 Firm 1 55% 45% 25% 10% Firm

Use the information in the table below. Percentage of sales Industry 1 Industry 2 Industry 3 Industry 4 Firm 1 55% 45% 25% 10% Firm 2 10% 35% 40% 60% Firm 3 25% 20% 35% 10% Firm 4 10% 20% Which of the following industries is the most concentrated based on the Herfindahl Index? Multiple Choice Industry 1 Industry 2 Industry 3 Industry 4

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