A low concentration ratio would most likely indicate that the industry resembles the behavior of a (n)

Question

Quizplus · Accepted Answer

A low concentration ratio indicates that there are many firms operating in the industry, which is a characteristic of monopolistic competition where firms differentiate their products to attract consumers. Cartels, monopolies, and oligopolies have high concentration ratios because they are dominated by few large firms controlling the market.

A Low Concentration Ratio Would Most Likely Indicate That the Industry