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. 84.1 percent.
B. 69.0 percent.
C. 35.8 percent.
D. 82.5 percent.
Answer: D
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Which of the following statements about implicit costs is true?
A. They measure the forgone opportunities of the firm's owners. B. They exceed explicit costs. C. They are always fixed. D. They do not enter into the calculation of economic profit.
Demand and supply in the wheat market are given by:
QD = 2000 - 1000 P and QS = -500 + 1000 P where Q is millions of bushels and P is price per bushel. a. Find the equilibrium price and quantity. b. Suppose that the government wishes to support farm income and thus sets a price floor of $1.50/bushel. Find the size of the farm surplus. c. What is the cost of this program to the government?
Based on annual data from 2000-2010, the Gadget Company estimates that sales are growing according to a linear trend:
Q = 50,000 + 200t where t is time and t = 0 in 2000. a. Forecast sales for 2013. b. Do you see any problems with this forecasting method?
Which of the following changes in the exchange rate represents an appreciation of the dollar?
a. 100 yen = $1 to 90 yen = $1 b. 1 yen = $.10 to 1 yen = $.08 c. 1 pound = $3 to 1 pound = $4 d. $1 = 25 rubles to $1 = 20 rubles e. 20 euros = $10 to 19 euros= $10