Suppose that three firms make up the entire wig manufacturing industry. one has a 40% market share, and the other two have a 30% market share each. the herfindahl index of this industry is . mane attraction, one of the firms with a 30% market share in the wig manufacturing industry, leaves the market. this would cause the herfindahl index for the industry to . the largest possible value of the herfindahl index is 10,000 because: an index of 10,000 corresponds to a monopoly firm with 100% market share an industry with an index higher than 10,000 is automatically regulated by the justice department an index of 10,000 corresponds to 100 firms with a 1% market share each

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.