Answer
No.of firms in an industry = 10
Market share of each firm = 10
Herfindahl's index = 10 x 10^{2} = 10 x 100 = 1,000
Work Step by Step
Given that there are 10 firms in an industry with a market share of 10% each.
Herfindahl's index is defined as the sum of squares of percentage market shares of all the firms in the industry
