When in fact the market should only consist of product

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Suppose a market is defined too narrowly as product A. That is, the correct definition of the market should include other products as well, such as B, C, and D. Explain how this affects the values of the concentration ratio and Herfindahl index. What if the market is defined too broadly (i.e., products A, B, C, and D are included in the same market, when in fact the market should only consist of product A)?

Reference no: EM131090359

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