An Industry Is Comprised of 20 Firms, Each with an Equal

question 33

Multiple Choice

An industry is comprised of 20 firms, each with an equal market share.What is the 4-firm concentration ratio of this industry?

• A)0.2.
• B)0.4.
• C)0.6.
• D)0.8.

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Definitions:

Environmental Influences

Factors within the environment, such as social, physical, and cultural elements, that can affect an individual’s behavior, development, and well-being.

Genotype

The genetic makeup of an organism, consisting of both the genes visible in the traits and those that are latent.

Phenotype

The observable characteristics or traits of an organism that are produced by the interaction of its genotype with the environment.

Peripheral Nervous System

The network of nerves that lies outside the central nervous system, connecting it to limbs and organs.