The laundry machine industry has a four-firm concentration ratio of 98%. Based on this information, we can conclude that:
A) each firm in the laundry machine industry has an equal share of the market.
B) the laundry machine industry is a tight oligopoly.
C) the laundry machine industry is monopolistically competitive.
D) the top four firms in the laundry machine industry have a high market capitalization.
E) the laundry machine industry is perfectly competitive.
Correct Answer:
Verified
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