2. The chief operating officer hands you the following information about market share in a competing industry:
Firm Market Share (%)
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Z 20%
Y 12
X 10
W 6
V 3
U 2
T 2
45 other firms 1% each
The COO asks you to calculate the HHI for the entire industry (all firms) and whether this industry is competitive, moderately concentrated, or highly concentrated. Calculate and show.
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