-An industry's total revenue is $100 million.The above table shows the total revenue of the four largest firms in an industry.
a.Calculate this industry's four-firm concentration ratio.
b.Is this industry competitive?
c.What market type does it most likely represent?
Definitions:
Production
The process of creating goods and services using labor, machinery, tools, and chemical or biological processing or formulation.
December
The last month of the year according to the Gregorian calendar, which is the twelfth.
Cash Disbursements
Payments made by a business in cash or cash equivalents, including expenses, debt payments, and distributions to owners.
Net Income
The total profit or loss of a company after all expenses, including taxes and interest, have been deducted from total revenue.
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