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.
Answer: C
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With fixed interest rates, unanticipated deflation hurts ________ because ________
A) lenders; they get paid back in less valuable dollars B) lenders; they get paid back in more valuable dollars C) borrowers; they repay the loan in more valuable dollars D) borrowers; they repay the loan in less valuable dollars
The real exchange rate is defined as
A) the market exchange rate adjusted for price differences. B) the purchasing power parity exchange rate. C) the exchange rate that causes interest parity to hold. D) the exchange rate that exists in major currency centers.