An industry consists of three firms with sales of $205,000,$745,000, and $305,000. a. Calculate the Herfindahl-Hirschman index(HHI). Instruction: Enter your response rounded to the nearestinteger. b. Calculate the four-firm concentration ratio (C4). c.Based on the FTC and DOJ Horizontal Merger Guidelines described inthe text, is the Department of Justice likely to attempt to block ahorizontal merger between two firms with sales of $205,000 and$305,000? Yes No
