The Concentration Ratio Is the Percentage of ___ Earned by the ___

question 12

Multiple Choice

The concentration ratio is the percentage of ___ earned by the ___ largest firms in the industry.

• A)sales;four
• B)sales;ten
• C)profits;four
• D)profits;ten

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Definitions:

Marginal Cost

The extra expense involved in creating an additional unit of a product or service.

Variable Costs

Costs that vary directly with the level of production or the volume of output.

Lease

A contract by which one party conveys land, property, services, or goods to another for a specified period, usually in exchange for periodic payments.

Bouquets

A collection or arrangement of flowers.