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2. The chief operating officer hands you the following information about market share in a competing...

2. The chief operating officer hands you the following information about market share in a competing industry:

                        Firm                                Market Share (%)

            ==================================

                        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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