1. Which industry is more highly concentrated: one with a Herfindahl index of 1,200 or one with a four-firm concentration ratio of 55 percent?
2. The pizza market is divided as follows:
![8_fc59567e-3130-4d63-b001-435aaf55d1e0.png](https://secure.tutorsglobe.com/CMSImages/8_fc59567e-3130-4d63-b001-435aaf55d1e0.png)
a. How would you describe its market structure?
b. What is the approximate Herfindahl index?
c. What is the four-firm concentration ratio?