(Table: Market Shares) Given the Market Shares in the Table

question 154

Multiple Choice

(Table: Market Shares) Given the market shares in the table, the four-firm concentration ratio would be
$\begin{array}{|c|c|}\hline \text { Firms } & \text { Market Share } \\\hline \mathrm{A} & 5 \% \\\hline \mathrm{B} & 4 \% \\\hline \mathrm{C} & 10 \% \\\hline \mathrm{D} & 21 \% \\\hline \mathrm{E} & 20 \% \\\hline \mathrm{F} & 7 \% \\\hline \mathrm{G} & 13 \% \\\hline \mathrm{H} & 11 \% \\\hline \mathrm{I} & 6 \% \\\hline \mathrm{J} & 3 \% \\\hline\end{array}$

• A) 75.
• B) 40.
• C) 65.
• D) 33.

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Definitions:

Set of Data

A collection of related information or variables, typically numeric, organized for analysis.

Mean

A statistical measure that represents the average value of a set of numbers.

Set of Data

A collection of data points or values that have been gathered to provide information for analysis.

Median

The middle value in a sorted list of numbers, which separates the higher half from the lower half of the dataset.