Suppose each of the 50 states had only one gasoline station,and all stations were the same size.The four-firm concentration ratio for the state of New York,based on the state data,is:

Question

Quizplus · Accepted Answer

The four-firm concentration ratio measures the market share of the four largest firms in an industry. In this case, each state has only one gasoline station, so there is only one firm and its market share is 100%. Therefore, the four-firm concentration ratio for any state would be 1.0.

Suppose Each of the 50 States Had Only One Gasoline