As observed in China's steel appliance market, the rise in the price of refrigerators resulted:
a. solely from an increase in the demand for refrigerators.
b. from an increase in the demand for steel from all appliance industries.
c. from a shortage of steel in the world markets.
d. from an increase in the price of steel that was the result of increased demand for refrigerators.
D
Economics
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A) 12% B) 16.42% C) 19.35% D) 24%
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According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be
A) 82.5 percent. B) 35.8 percent. C) 69.0 percent. D) 84.1 percent.
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