When the Four-Firm Concentration Ratio Is Less Than 40 Percent

When the four-firm concentration ratio is less than 40 percent, we can conclude that:

A) the four dominant firms in the industry enjoy a high degree of market power.
B) the industry is a tight oligopoly.
C) the market shares of each firm in the industry are highly unequal.
D) the industry is monopolistically competitive.
E) the industry is competitive.