Suppose there are seven firms in a market where the three largest firms supply 20% of the market-clearing quantity and the other four firms supply 10% of the market-clearing quantity. What is the five-firm concentration ratio (i.e
, the share of total sales controlled by the five largest firms in the market)? A) 60%
B) 70%
C) 80%
D) 90%
C
Economics
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If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01. B) .09. C) 1. D) 11.
Economics
Monetizing the debt has what effect on the economy?
A. Slow increase in AS with steady inflation B. Rapid increase in AD with an increase in inflation C. Rapid increase in AS with a drop in inflation D. Decrease in AD with an increase in inflation
Economics