The Following Three FIs Dominate a Local Market and Their

question 37

Multiple Choice

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

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

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Definitions:

Lac Operon

An example of gene regulation in prokaryotes, involving a group of genes that are involved in the transport and breakdown of lactose in the cell.

Repressor

A substance, often a protein, that inhibits the expression of a gene.

Differentiated Cell

A cell that has developed and specialized to perform a specific function in the body.