If the four-firm concentration ratio for an industry is 84 percent, then
A) each of the firms account for 21 percent of total sales.
B) the four largest firms in the industry account for 16 percent of the total sales.
C) the four largest firms in the industry account for 84 percent of the total sales.
D) the remaining firms in the industry accounts for 84 percent of the total sales.
C
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During periods of inflation, which function of money is most severely affected?
A) medium of exchange B) unit of account C) means of payment D) store of value
Which of the following is not characteristic of U.S. agriculture?
A. Productivity has been increasing more slowly in agriculture than in the rest of the economy. B. The demand for agricultural commodities increases less than proportionate to increases in income. C. Resources in agriculture are relatively immobile. D. Demand is inelastic with respect to price.