An Industry Is Comprised of 20 Firms,each with an Equal

question 90

Multiple Choice

An industry is comprised of 20 firms,each with an equal market share.What is the four-firm concentration ratio of this industry?

• A) 0.2
• B) 0.4
• C) 0.6
• D) 0.8

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Definitions:

Clearly Stated

Expressed in a manner that leaves no doubt about the meaning or intentions.

Good Faith

The principle of honesty and sincerity in dealings, especially in fulfilling contractual obligations.

Gratuitous Agent

An individual who acts on behalf of another without receiving any compensation for his/her actions.

Breach Of Contract

The failure to fulfill the terms of a contract without a valid legal excuse.