Question

Suppose you are given the following annual sales data for firms in the automobile industry: Firm Sales (millions) A $1,000 B $5,200 C $1,200 D $6,000 E $950 F $3,800 G $580 All other firms combined total $250 What is this industry's four-firm concentration ratio? Is the industry competitive or concentrated? a. between 0 percent and 50 percent; the industry is competitive b. between 0 percent and 50 percent; the industry is concentrated c. between 50 percent and 80 percent; the industry is competitive d. between 50 percent and 80 percent; the industry is concentrated e. greater than 80 percent; the industry is concentrated

          Suppose you are given the following annual sales data for firms in the automobile industry:  
Firm Sales (millions)
A $1,000
B $5,200
C $1,200
D $6,000
E $950
F $3,800
G $580
All other firms combined total $250
What is this industry's four-firm concentration ratio?  Is the industry competitive or concentrated?  
a.
between 0 percent and 50 percent; the industry is competitive 
b.
between 0 percent and 50 percent; the industry is concentrated 
c.
between 50 percent and 80 percent; the industry is competitive 
d.
between 50 percent and 80 percent; the industry is concentrated 
e.
greater than 80 percent; the industry is concentrated

Added by Marie S.

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