If an industry evolves from monopolistic competition to oligopoly, we would expect

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When an industry evolves from monopolistic competition to oligopoly, it means that fewer firms are controlling a larger portion of the market. The four-firm concentration ratio, which measures the total market share of the four largest firms in the industry, would increase as the market becomes more dominated by a smaller number of firms.

If an Industry Evolves from Monopolistic Competition to Oligopoly, We