If the Four-Firm Concentration Ratio for the Market for Pizza

question 21

Multiple Choice

If the four-firm concentration ratio for the market for pizza is 28 per cent, then this industry is best characterised as

• A) an oligopoly.
• B) perfect competition.
• C) monopolistic competition.
• D) a monopoly.
• E) oligopolistic competition.

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Definitions:

Cathode Rays

Streams of electrons observed in vacuum tubes, leading to the discovery of electron properties and the development of electronic devices.

Arc

A luminous discharge of electricity through gas.

Voltage

The electric potential difference between two points, or the push that drives an electric current between those points.

Conduction

The transfer of heat or electricity through a substance, resulting from a difference in temperature or electrical potential.