What is the four-firm concentration ratio if the four largest firms in an industry account for 5 percent, 6 percent, 7 percent, and 8 percent of total revenue?
A) 26 percent
B) 174 percent
C) 1,680
D) There is enough information given to answer the question, but none of the answers above are correct.
E) There is not enough information given to answer the question.
A
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In economics, the term "capital" refers to
A) the money in one's pocket. B) buildings and equipment. C) mineral resources. D) consumer goods.
Countries tend to export different goods and services because of:
a. differences in their comparative advantages. b. differences in tastes and technological needs. c. differences in income. d. similarities in resource endowment. e. differences in the exchange rates.
Which of the following is an example of a positive externality?
a. air pollution b. a person littering in a public park c. a nice garden in front of your neighbor's house d. the pollution of a stream
If a country's population grows at the same rate as its real GDP, then real per capita GDP:
a. doesn't change. b. grows at an increasing rate. c. decreases at a decreasing rate. d. grows at a constant rate.