Which of the following statements regarding concentration ratios is most accurate?

A) Concentration ratios always provide an accurate account of the extent of competition in an industry.
B) Due to their shortcomings, concentration ratios provide no useable information as to the extent of competition in an industry.
C) Due to their shortcomings, concentration ratios generally do not provide any legitimate idea of the extent of competition in an industry.
D) Despite their shortcomings, concentration ratios can provide a general idea of the extent of competition in an industry.

Answer: D