The fraction of an industry's sales that are accounted for by the four largest firms is called
A) the four-firm competition ratio.
B) the four-firm concentration ratio.
C) the four-firm industry ratio.
D) the four-firm oligopoly ratio.
Answer: B
You might also like to view...
In the above figure, a shift in the budget line in the direction indicated would occur as a result of
A) a decrease in money income. B) an increase in money income. C) a fall in the price of a movie. D) a rise in the price of movie.
Cost-price pricing typically does not result in profit-maximization. As a result, economists have two views of cost-plus pricing. One of these views is
A) cost-plus pricing is a good way to approximate the profit-maximizing price when marginal revenue or marginal cost is difficult to determine. B) cost-plus pricing is more likely to lead to profit-maximization for monopolistically competitive firms than for oligopoly firms. C) cost-plus pricing is more likely to result in profit-maximization the more elastic the firm's demand curve is. D) cost-plus pricing is more likely to lead to profit-maximization for large firms than for small firms.