- Using the data in the tables calculate the following concentration indices for each industry: 3-firm and 7-firm concentration ratios and the Herfindhal-Hirschman Index (HHI).
- Use the concentration indices to compare the market structures of the three industries. Comment on the usefulness of the various measure of concentration in making the comparison.
- On the basis of the market structures you have identified and the nature of products being sold in each industry, discuss the types of competitive behaviour, e.g., pricing, advertising, product innovation, you would expect to see in each industry. This requires you to relate the theoretical expectations of competitive behaviour to the different industries.
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