What is the Herfindahl Index? The Pizza market is made up of 55 separate firms. The market share for the top 5 firms is shown in the table below plus the market share of the remaining 50 firms in this market. Pizza Hut Domino's Firm Little Caesars Pizza Inn/Pantera's Round Table all others (50 firms) Market Share 20.7% 17.0 6.7 2.2 2.0 51.4 a. How would you describe its market structure? Oligopoly ▼ b. What is the approximate Herfindahl index? Instructions: Round your answer to the nearest whole number.
What is the Herfindahl Index? The Pizza market is made up of 55 separate firms. The market share for the top 5 firms is shown in the table below plus the market share of the remaining 50 firms in this market. Pizza Hut Domino's Firm Little Caesars Pizza Inn/Pantera's Round Table all others (50 firms) Market Share 20.7% 17.0 6.7 2.2 2.0 51.4 a. How would you describe its market structure? Oligopoly ▼ b. What is the approximate Herfindahl index? Instructions: Round your answer to the nearest whole number.
Chapter1: Making Economics Decisions
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