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    Market Structure

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    The pizza market is divided as follows:
    Pizza hut 20.7%
    Domino's 17.0
    Little Caesar's 6.7
    Pizza Inn 2.2
    Round Table 2.0
    All others 51.4

    a. How would you describe its market structure?
    b. What is the approximate Herfindahl index?
    c. What is the four-firm concentration ratio

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    Solution Preview

    a. The market is pretty unconcentrated. 51.4% of the share is with the other companies. For ...

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