Complete the following problem : The attached table represents the market share of the top eight firms in a hypothetical industry

Complete the following problem :

The attached table represents the market share of the top eight firms in a hypothetical industry in 2006 and 2011.

  • Calculate the four-firm concentration ratios for 2006 and 2011. Analyze the industry changes during this five-year period.
  • Calculate the eight-firm concentration ratios for 2006 and 2011. Does this index give you any different indication about changes in the industry over the same period?
  • Calculate the Herfindahl-Hirschman Indexes for 2006 and 2011. What information does this index tell you about changes in the industry? How does this information differ from the four-firm and eight-firm indexes?
  • Hypothesize what you think might have happened to supply, demand, and price of products in this industry from 2006 to 2011. Use charts, if appropriate, to illustrate your response.

5-4 Homework: Problem Set Data

Firm Market Share 2006 Market Share 2011
A 10% 32%
B 8% 5%
C 12% 12%
D 20% 29%
E 21% 9%
F 2% 1%
G 5% 4%
H 6% 2%

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