1

Table 25.2 Market Share Output (Revenue) $20,000 $16,000 $2,000 Pool Sweeper (8) North Star Hurricane Blue...

Question

Table 25.2 Market Share Output (Revenue) $20,000 $16,000 $2,000 Pool Sweeper (8) North Star Hurricane Blue...

Table 25.2 Market Share Output (Revenue) $20,000 $16,000 $2,000 Pool Sweeper (8) North Star Hurricane Blue Lagoon Clean Sweep
Suppose there are three firms in a market. The largest firm has sales of $50 million, and each of the other two firms has sal
Table 25.2 Market Share Output (Revenue) $20,000 $16,000 $2,000 Pool Sweeper (8) North Star Hurricane Blue Lagoon Clean Sweep $2,000 Refer to Table 25.2. Assume there are only four firms in the pool sweeper industry. What is the market share for Blue Lagoon?
Suppose there are three firms in a market. The largest firm has sales of $50 million, and each of the other two firms has sales of $25 million. The Herfindahl-Hirschman Index of this industry is Multiple Choice 2,550. 3,950. 3,125 3750 2,500 1#

Answers

Solution:-

Pool Sweeper

Outputs

Market Share

North Star

$20,000

50%

Hurricane

$16,000

40%

Blue Lagoon

$2000

5%

Clean Sweep

$2000

5%

Total

$40,000

(1). Market Share for Blue – Lagoon = Output Blue lagoon / Total Output * 100

                                                                  = $2,000 / $40,000 * 100

                                                                  = 5%

(2). The HHI index is calculated as follows:

HHI = (50) ^2 + (25) ^2 + (25) ^2

= 2500 + 625 + 625

= 3750

Answer is Option (D) 3750


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