An Industry Is Composed of 10 Firms, All with Equal

question 59

Multiple Choice

An industry is composed of 10 firms, all with equal sales. The four-firm concentration ratio in this industry is

• A)0.40.
• B)0.80.
• C)10.00.
• D)There is not enough information provided to answer this question.

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Definitions:

Stroop Effect

A demonstration of interference in the reaction time of a task, where naming the color of the word takes longer and is more prone to errors when the color of the ink does not match the name of the color.

Synaptic Connections

The points at which neurons communicate with each other through the release and reception of chemical messengers called neurotransmitters.

Response Dominates

A situation or condition in which one reaction or response prevails or is more prominent over others in influencing behavior or an outcome.

Prototype

An original form or model of something from which later versions are derived or on which they are based.