[Step-by-Step] (12 total points) Suppose there are 12 firms in an industry. The percentage of total sales is given in the following table: Firm Percentage
Question: (12 total points) Suppose there are 12 firms in an industry. The percentage of total sales is given in the following table:
| Firm | Percentage of total sales |
| 1 | 16 |
| 2 | 14 |
| 3 | 12 |
| 4 | 12 |
| 5 | 10 |
| 6 | 8 |
| 7 | 6 |
| 8 | 6 |
| 9 | 5 |
| 10 | 4 |
| 11 | 4 |
| 12 | 3 |
- (6 points) Calculate the HHI for this industry.
- (6 points) If firms 6 and 7 decide to merge, would this merger be challenged by the FTC? Why or why not?
Deliverable: Word Document 
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