If an industry has 25 firms that collectively have $150 million in total sales and the top three firms in this industry account for $78 million in sales and the fifth through twenty-fifth firms account for $60 million in sales, what is the amount of

sales for the fourth largest firm?

A) $12 million
B) $6 million
C) $18 million
D) none of the above

Answer: A

Economics

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The optimal size of a project is _____

a. the one that produces the highest net benefits b. the one that has the highest ratio of benefits to costs c. the one where the distance between marginal benefits and marginal costs is greatest d. a and c

Economics

A local Krispy Kreme doughnut shop reduced the price of its doughnuts from $4 per dozen to $3.50 per dozen, and as a result, the daily sales increased from 300 to 400 dozen. This indicates that the price elasticity of demand for the doughnuts was:

a. elastic. b. inelastic. c. of unitary elasticity. d. indeterminate; more information is needed to determine the price elasticity of demand.

Economics