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:

Agoraphobia

A disorder characterized by an extreme or irrational fear of crowded spaces or enclosed public places.

Posttraumatic Stress Disorder

A psychiatric disorder that may occur in people who have experienced or witnessed a traumatic event, characterized by flashbacks, severe anxiety, and uncontrollable thoughts about the event.

Generalized Anxiety Disorder

A mental health disorder characterized by chronic and excessive worry about various aspects of life, beyond what might be considered reasonable.

Anxiety Disorders

A category of mental health disorders characterized by excessive fear, anxiety, and related behavioral disturbances.