If an industry currently dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues, with the remaining two firms each representing 5%, then one of the large firms merged with one of the small ones, what would be the new four firm concentration ratio and the new Herfindahl-Hirschman Index for this industry?

a. 100%; 3,050
b. 100%; 2,750
c. 95%; 3,050
d. 95% 2,750


a

Economics

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