Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry A is:
A. 1,800.
B. 2,500.
C. 3,200.
D. 2,800.
Answer: C
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Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
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Answer the following statement true (T) or false (F)