The combined market share for the top four firms in a monopolistically competitive industry will typically be in the range of 20 to 40 percent.
Answer the following statement true (T) or false (F)
True
Concentration ratios between 70 to 100 percent are common in oligopolies. Although a few firms may stand above the rest in a monopolistically competitive market, the combined market share of the top four firms will typically be in the range of 20 to 40 percent.
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Which of the following statements about a monopoly is FALSE?
A) Monopolies have no barriers to entry or exit. B) The good produced by a monopoly has no close substitutes. C) A monopoly is the only producer of the good. D) None of the above; that is, all of the above answers are true statements about a monopoly.
Because low tariffs have a high ratio of benefits to costs, they are an especially efficient way for nations to achieve full employment and growth
Indicate whether the statement is true or false
Suppose a bank has total assets of $300 million and a net worth of $15 million. Its demand deposit liabilities must be equal to
a. $20 million b. $315 million c. $0.05 million d. $285 million e. $585 million.
Economic profit made by a firm is equal to: a. total revenue minus the sum of implicit and explicit costs for the firm. b. total revenue minus implicit cost for the firm
c. total revenue minus explicit cost for the firm. d. marginal revenue minus the explicit cost for the firm.