Concentration Ratios

question 201

Multiple Choice

Concentration ratios

• A) refer to the concentration of customers in a certain area.
• B) measure whether the market is dominated by a small number of firms.
• C) measure the concentration of a large number of firms in a certain area.
• D) have high values for perfect competition.
• E) measure how concentrated a firm's sales are among certain types of goods.

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Definitions:

Selling Price

The amount for which a product or service is sold to a customer.

Accurate

Free from errors or mistakes; precise and correct in details.

Cent

The smallest denomination of many currencies, representing 1/100th of the currency's main unit.

Percent

A ratio or fraction calculated out of 100, used to indicate portions of a whole.