Suppose an Industry Is Made Up of 25 Firms, All

question 176

Multiple Choice

Suppose an industry is made up of 25 firms, all with equal market share.What is the four-firm concentration ratio of this industry?

• A)16%.
• B)20%.
• C)25%.
• D)It cannot be determined from the information given.

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Definitions:

Former Slaves

Individuals who were previously enslaved and have since gained their freedom, particularly in reference to the historical context of slavery in various regions.

Importation Of Slaves

The historical practice of bringing enslaved African people to various parts of the world, especially to the Americas, through the transatlantic slave trade.

Louisiana Purchase

The acquisition of the Louisiana territory by the United States from France in 1803, which doubled the size of the U.S. and opened up the country for westward expansion.

Slave Society

A society in which the institution of slavery impacts all aspects of life, including economic, social, and political structures.