In an oligopolistic industry mergers and acquisitions are guided by the Herfindahl Hirschman Index (HHI).

(a) Assume that 7 firms of an industry currently has the following market share (in percent): 12, 13, 14, 14, 15,  16,  16. What is the HHI of this industry?

(b). Based on your calculation of the HHI, how would this industry be characterized by the Anti-Trust Division of the US DOJ? Explain.

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