Author Question: Competition has driven the economic profits in the video rental business to zero. Surya Bacha, who ... (Read 155 times)

kellyjaisingh · **on:** Jun 29, 2018

Competition has driven the economic profits in the video rental business to zero. Surya Bacha, who owns a video rental business, would be better off leaving the industry for another alternative.

Indicate whether the statement is true or false

Question 2

Consider an industry that is made up of nine firms each with a market share (percent of sales) as follows:

a. Firm A: 30
b. Firm B: 20
c. Firms C, D, and E: 10 each
d. Firms F, G, H, and J: 5 each

What is the value of the four-firm concentration ratio and how is the industry categorized?
A) 80; strongly oligopolistic B) 70; oligopoly
C) 50; monopolistic competition D) 75; oligopoly

alvinum · **Reply #1 on:** Jun 29, 2018

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