Consider an Industry That Is Made Up of Nine Firms,each

question 20

Multiple Choice

Consider an industry that is made up of nine firms,each with a market share (per cent of sales) as follows:
A.Firm A: 30%
B.Firm B: 20%
C.Firms C,D and E: 10% each
D.Firms F,G,H and J: 5% each
What is the value of the four-firm concentration ratio and how is the industry categorised?

• A)50%;monopolistic competition
• B)70%;oligopoly
• C)75%;oligopoly
• D)80%;strongly oligopolistic

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Definitions:

Common Goal

An objective or purpose shared by a group of individuals or entities, aiming towards a mutual benefit.

Original Schedule

The initial plan or timetable set for a series of tasks or events, which may be subject to change.

Project Regularly

The practice of consistently and systematically working on a project over time to ensure progress and eventual completion.

Large Project

A project that involves a significant amount of resources, time, and complexity, often requiring coordination among various stakeholders.