Suppose That Total Sales in an Industry in a Particular

question 133

Multiple Choice

Suppose that total sales in an industry in a particular year are $500 million and sales by the top four sellers are $80 million, $25 million, $12 million, and $8 million, respectively. We can conclude that

• A)allocative efficiency will be achieved.
• B)this industry is monopolistically competitive.
• C)the concentration ratio is 35 percent.
• D)firms in this industry likely collude with each other.

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