An analyst gathers the following market share data for an industry:
ABV: 40%
ABW: 30%
ABX: 15%
ABY: 7%
ABZ: 8%
Determine the industry's three-firm Herfindahl-Hirschman Index.
a. 0.1815
b. 0.1726
c. 0.2004
d. 0.2467