Industry Y Is Dominated by Five Large Firms That Hold

question 139

Multiple Choice

Industry Y is dominated by five large firms that hold market shares of 20, 25, 15, 10, and 25 percent. The four-firm concentration ratio for this industry is

• A) 70 percent.
• B) 80 percent.
• C) 85 percent.
• D) 90 percent.

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Definitions:

Fraction

A mathematical expression representing the division of one number by another, denoting part of a whole.

Total Number

The entirety or sum of amounts, quantities, or counts of items in a set.

Classes

Categories or groupings into which data points are organized for statistical analysis or presentation.

Cumulative Relative Frequency

A measure showing the percentage of observations that fall below a particular value in a dataset.