(Solved): 3,4 There are 4 firms in the same industry with sales of \( \$ 5 \) million, \( \$ 2 \) million, \ ...

3,4

There are 4 firms in the same industry with sales of \( \$ 5 \) million, \( \$ 2 \) million, \( \$ 2 \) million, and \( \$ 1 \) million. The \( \mathrm{HHI} \) for this industry is: \[ \begin{array}{|c|} \hline 3,200 \\ \hline 3,000 \\ \hline \text { indeter } \\ \hline 2,900 \\ \hline \end{array} \] \[ \text { indeterminable } \] Question 4 4 pts The chemical industry has a Lerner index of 0.6. Based on this information, a firm with a marginal cost of \( \$ 20 \) should charge a price of 12 30 50 60