The eight-firm concentration ratio for an industry is 0.80.If the top four firms in the industry account for $45 million in sales,what do total sales equal?
A) $56.25 million
B) $45 million
C) $11 million
D) $20 million
E) There is not enough information to answer the question.
Correct Answer:
Verified
Q119: If the top four firms account for
Q121: Exhibit 25-8 Q122: If two firms that form a cartel Q125: The monopolistic competitor is a Q130: One of the key characteristics of oligopoly Q133: A significant difference between perfect competition and Q135: A monopolistic competitor has a demand curve Q137: Cartels often dissolve because Q138: In monopolistic competition, firms can compete in Q139: In recent years, which of the following
A)price taker.
B)price searcher.
C)single
A)their members often set
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