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Suppose an industry is made up of 16 firms. Three firms each sell 12 percent of the industry's ...

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Suppose an industry is made up of 16 firms. Three firms each sell 12 percent of the industry's ...

Suppose an industry is made up of 16 firms. Three firms each sell 12 percent of the industry's total output; another three firms each sell 8 percent; another five firms each sell 5 percent; and the last five firms each sell 3 percent. What is the eight-firm concentration ratio in this industry?

▸

0.85

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0.50

▸

0.40

▸

0.70

▸

1.40

Textbook

Economics

Edition: 12^th

Author: Arnold

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