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Author Question: Using the information in the table, develop the four-firm concentration ratio. Would you classify ... (Read 65 times)

altibaby

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on: Jun 29, 2018
Using the information in the table, develop the four-firm concentration ratio. Would you classify this industry as an oligopoly? Explain your answer.
 
  What will be an ideal response?

Question 2

In the United States, which of the following is an example of a government-inhibited good?
 
  A) museums
  B) concerts
  C) cigarettes
  D) sports stadiums


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AngeliqueG

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

The four-firm concentration ratio is 93 percent (800/860 multiplied by 100). This industry would be classified as an oligopoly if we use the rule of thumb that says that an oligopoly exists when the four-firm concentration ratio is at least 75.

Answer to Question 2

C


altibaby

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

tranoy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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