he table represents the market share of the 10 largest steel producers. Firm Market Share (%) 1 21.2 2 18.2 3 14.0 4 12.0 5 8 6 7.5 7 6.4 8 5 9 4 10 1 What is the four‑firm concentration ratio for the steel industry represented in the table? Round your answer to the nearest tenth.

he table represents the market share of the 10 largest steel producers. Firm Market Share (%) 1 21.2 2 18.2 3 14.0 4 12.0 5 8 6 7.5 7 6.4 8 5 9 4 10 1 What is the four‑firm concentration ratio for the steel industry represented in the table? Round your answer to the nearest tenth.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter16: Government Regulation

Section: Chapter Questions

Problem 3E

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Question

The table represents the market share of the 10 largest steel producers.

Firm	Market Share (%)
1	21.2
2	18.2
3	14.0
4	12.0
5	8
6	7.5
7	6.4
8	5
9	4
10	1

What is the four‑firm concentration ratio for the steel industry represented in the table? Round your answer to the nearest tenth.

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