Exhibit 25-3 Refer to Exhibit 25-3

Exhibit 25-3 Refer to Exhibit 25-3. If Firms J, K, and L were to merge, the four-firm concentration ratio would ____________________ and the Herfindahl Index would _____________________.

A) rise to 50 percent; rise to 1,062
B) rise to 28 percent; rise to 10,000
C) rise to 60 percent; fall to 986
D) rise to 59 percent; rise to 1,212
E) not be affected; not be affected