If enforcement of antitrust laws caused the two largest firms in this table to be divided in half, with each half having equal market share, the industry's four-firm concentration ratio would ____ and its Herfindahl index would ____.
Definitions:
Warranty Accrual Method
An accounting approach that recognizes the estimated cost of fulfilling product warranties as an expense when the related sales occur.
Warranty Costs
Expenses incurred by a company to repair, replace, or refund products that are found to be defective within the warranty period.
Sales
The total revenue generated from the sale of goods or services by a company during a specific period.
Trade Accounts Payable
Short-term liabilities owed to suppliers for goods or services purchased on credit.
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