Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 25%, 24%, 18%, 12%, 11%, 6%, and 4%. instructions: enter your answers as whole numbers. a. what is the four-firm concentration ratio of the hamburger industry in this town? b. what is the herfindahl index for the hamburger industry in this town? c. if the top three sellers combined to form a single firm, what would happen to the four-firm concentration ratio and to the herfindahl index?

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.