Suppose an industry is made up of 22 firms. Two firms each sell 10.5 percent of the industry's total output; another three firms each sell 9 percent; another six firms each sell 5 percent; and the last eleven firms each sell 2 percent. What is the eight-firm concentration ratio in this industry?
A)0.45
B)0.50
C)0.39
D)0.63
E)1.40

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The Answer of Suppose an industry is made up of 22 firms. Two firms each sell 10.5 percent of the industry's total output; another three firms each sell 9 percent; another six firms each sell 5 percent; and the last eleven firms each sell 2 percent. What is the eight-firm concentration ratio in this industry?
A)0.45
B)0.50
C)0.39
D)0.63
E)1.40

Suppose an Industry Is Made Up of 22 Firms