If an Industry Has a Four-Firm Concentration Ratio Equal to One

question 160

Multiple Choice

If an industry has a four-firm concentration ratio equal to one hundred percent, then it is definitely the case that the industry is

• A) a monopoly.
• B) perfectly competitive.
• C) monopolistically competitive.
• D) either a monopoly or an oligopoly.

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Definitions:

Superior Opinions

Refers to the judgments or viewpoints held by individuals in higher positions within an organization or hierarchy.

Irrational

refers to actions or decisions not based on logical reasoning, sound judgment, or clear thinking.

Discrimination

Actively denies minority members the full benefits of organizational membership.

Denies

The act of rejecting a statement, request, or acknowledgment; refusal.