Suppose There Are Only Three Firms in a Market

question 50

Multiple Choice

Suppose there are only three firms in a market.The largest firm has sales of $500 million,the second-largest has sales of $300 million,and the smallest has sales of $200 million.The market share of the largest firm is

• A)50 percent.
• B)100 percent.
• C)60 percent.
• D)40 percent.

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Definitions:

Ethical Research

The practice of conducting studies and experiments in accordance with established moral principles that protect participants.

Lifespan Development

Lifespan development is the field of study that examines patterns of growth, change, and stability in behavior that occur throughout the entire lifespan.

Growth

The process of increasing in size, maturation, or development in organisms, often referring to physical, emotional, or intellectual development.

Stability

The quality of being resistant to change and maintaining a steady state across time or situations.