what is the Herfindahl index foe this industry?

07 Connect Problem CP 13-07 (algo) Suppose that the top six firms in an industry have total annual sales of $200 billion $100 billion, $50.bilion $60 billion, $20 billion and $10 billion respectively Instructions: Round your answers to the nearest whole number, a. What is the four-firm concentration ratio for this industry? 93 percent b. What is the Herfindant index for this industry? (Hint: To find the Herfindahl index, you will need to compute the percentage market share for each tim in the industry. When calculating market share, do not round your intermediate calculations 2356 c Suppose another industry has a Herfinca index of 3.000, Firms in this industry are likely to have more market power