Using the Information in the Table,develop the Four-Firm Concentration Ratio

question 193

Essay

Using the information in the table,develop the four-firm concentration ratio.Would you classify this industry as an oligopoly? Explain your answer. $$\begin{array} { c c } \text { Firm } & \begin{array} { c } \text { Annual Sales } \\\text { (\$ millions) }\end{array} \\\hline 1 & 350 \\2 & 200 \\3 & 150 \\4 & 100 \\5 & 40 \\6 \text { through 20 } & \underline { 20 } \\& 810\end{array}$$