The work has not been graded but I like the output that was submitted to me. Is it possible for the same prof to do the next assignment I will be submitting? If possible, I will greatly appreciate it.
The table below provides the break-down of the market share from several brands different nutrition bar in 3 separate regions. In the Region UMCP, market shares of brand HS, SH, FE, GW are 50%, 40%, 10%, 0%, respectively. Compare degree of market concentration for each region from calculating the Herfindahl-Hirschman Index.
There are 2 units of the Index: (from 0 to 1 vs from 0 to 10000). If the range is from 0 to 10,000, HHI is calculated by the percentage of the market share. If the range is from 0 to 1, calculate it by the fraction of the market share. There is a market that Brand A shares( 0.3= 30%) and Brand B shares (0.7=70%), the HHI is either 0.3×0.3 + 0.7×0.7 = 0.09+0.49= 0.58, or 30×30 + 70×70 = 5800.
(1) Calculate the HHI for each of the separate Regions.
(2) Compare the degrees of market concentration among the regions. (Order the degree of concentration or the degree of competition)
(3) What is the market structure of nutrition bar seen at Region UMES?
(Select 1 of the following and explain: Perfect competition, monopolistic competition, oligopoly, monopoly, monopsony
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