Suppose There Are Only Three Firms in a Market

question 50

Multiple Choice

Suppose there are only three firms in a market.The largest firm has sales of $500 million,the second-largest has sales of $300 million,and the smallest has sales of $200 million.The market share of the largest firm is

• A)50 percent.
• B)100 percent.
• C)60 percent.
• D)40 percent.

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Definitions:

Coagulates

The process by which a fluid, especially blood, changes to a solid or semi-solid state, often to stop bleeding.

Vessel Wall

The structural boundary of blood vessels consisting of layers including the endothelium, smooth muscle, and connective tissue.

Thrombus

A blood clot that forms on the inside of an injured blood vessel wall.

Bacteria

Microscopic, single-celled organisms that exist in vast numbers in every environment on Earth, both harmful and beneficial.