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-The Above Table Shows the Percent of Sales Held by the Four

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  -The above table shows the percent of sales held by the four largest firms in an industry. a) Calculate this industry's four-firm concentration ratio. b) Is this industry competitive? c) What market type does it most likely represent?
-The above table shows the percent of sales held by the four largest firms in an industry.
a) Calculate this industry's four-firm concentration ratio.
b) Is this industry competitive?
c) What market type does it most likely represent?

Correct Answer:

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a) The four-firm concentration rate is 3...

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