If the four-firm concentration ratio for the market for pizza is 28 percent,then this industry is best characterized as
A) a monopoly.
B) monopolistic competition.
C) an oligopoly.
D) perfect competition.
E) oligopolistic competition.

Question

Quizplus · Accepted Answer

The four-firm concentration ratio of 28 percent indicates a market where no single firm or a small group of firms dominates the total market share, suggesting a market structure with many competitors and differentiated products, which is characteristic of monopolistic competition.

If the Four-Firm Concentration Ratio for the Market for Pizza