Table 16-1 the Following Table Shows the Percentage of Output Supplied by Supplied

question 622

Multiple Choice

Table 16-1
The following table shows the percentage of output supplied by the top eight firms in four different industries.
-Refer to Table 16-1. What is the concentration ratio in Industry A?

• A)38%
• B)71%
• C)92%
• D)98%

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Definitions:

Break-Even Point

The production level or sales volume at which total revenues equal total expenses, resulting in no net loss or gain.

Contribution Margin

The difference between sales revenue and variable costs, which contributes towards covering fixed costs and earning profit.

Fixed Costs

Costs that do not vary with the volume of production or sales, such as rent, salaries, and insurance premiums.

Units

A measure of quantity that indicates the count or quantity of a product or service.