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.
C
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Discovery of new gold in Alaska will ________ the ________ of gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) decrease; supply; increasing D) increase; supply; decreasing
The problem of "double marginalization" is
a. The retail price being too high due to an inclusion of both manufacturer and retailer markup b. The retail price being too low due to an exclusion of both manufacturer and retailer markup c. The retail price being too high due to an exclusion of manufacturer markup d. The retail price being too low due to an exclusion of retailer markup
Which of the following would not be included in the gross private domestic investment (I) category of GDP?
a. A bakery's purchase of a new oven. b. A retailer's additions to its inventories. c. Newly built residential construction. d. A bank's purchase of a U.S. Treasury bond.
Assume that buyers are aware of the similarities between the products sold by two dairy farms. The dairy producers can still practice price discrimination through advertisement and salesmanship
Indicate whether the statement is true or false