The Following Three FIs Dominate a Local Market and Their

question 157

Multiple Choice

The following three FIs dominate a local market and their total assets are given below. $$\begin{array} { | c | r | } \hline \text { Institution } & \text { Asset Size } \\\hline \text { Bank A } & \text { \$50 million } \\\hline \text { Bank B } & \text { \$60 million } \\\hline \text { Bank C } & \text { \$90 million } \\\hline\end{array}$$ What is the Herfindahl-Hirschman Index (HHI) for the local market?

• A)1,000.
• B)3,450.
• C)3,550.
• D)3,400.
• E)60.

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Definitions:

Work

The exertion of effort to achieve a purpose or result, often relating to one's job or tasks.

Hobbies

Leisure activities that one engages in for pleasure and relaxation, not as a main job.

Music Preferences

The specific genres, artists, or types of music an individual is inclined to enjoy and choose over others.

Generativity

A concern for establishing and guiding the next generation, usually described as a stage of adult development.