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Author Question: An industry's total revenue is 100 million. The above table shows the total revenue of the four ... (Read 55 times)

leo leo

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on: Jun 29, 2018
An industry's total revenue is 100 million. The above table shows the total revenue of the four largest firms in an industry.
 
  a. Calculate this industry's four-firm concentration ratio.
  b. Is this industry competitive?
  c. What market type does it most likely represent?

Question 2

Economic growth entails an increase in the rate of production of
 
  A) material goods.
  B) services.
  C) the money supply.
  D) wealth.


kardosa007

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. The four-firm concentration rate is 30 percent.
b. Because the four-firm concentration ratio is relatively low, the industry is competitive.
c. The industry is most likely monopolistic competition.

Answer to Question 2

D


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