Table 16-3The following table shows the output produced by each of the top eight firms in four industriesas well as the total industry output for those industries.Firm12345678TotalIndustry A50,00047,00043,00038,00032,00025,00017,0008,000270,000approximately 46%approximately 54%approximately 57%Industry B Industry C18,00037,00017,75036,50017,25035,50016,50034,00015,50032,00014,25029,50012,75026,50011,00023,000130,000 300,000approximately 61%Industry DRefer to Table 16-3. What is the concentration ratio for Industry B?40,00039,00037,00034,00030,00025,00019,00012,000250,000

Concentration ratio is used to assess the extent to which a given market is oligopolistic.

Table 16-3 The following table shows the output produced by each of the top eight firms in four industries as well as the total industry output for those industries. Firm 1 2 3 4 5 6 7 8 Total Industry A 50,000 47,000 43,000 38,000 32,000 25,000 17,000 8,000 270,000 Industry B Industry C 18,000 37,000 40,000 17,750 36,500 39,000 17,250 35,500 37,000 16,500 34,000 34,000 15,500 32,000 30,000 14,250 29,500 25,000 12,750 26,500 19,000 11,000 23,000 12,000 130,000 300,000 250,000 approximately 46% approximately 54% approximately 57% approximately 61% Industry D Refer to Table 16-3. What is the concentration ratio for Industry B?

Table 16-3 The following table shows the output produced by each of the top eight firms in four industries as well as the total industry output for those industries. Firm 1 2 3 4 5 6 7 8 Total Industry A 50,000 47,000 43,000 38,000 32,000 25,000 17,000 8,000 270,000 Industry B Industry C 18,000 37,000 40,000 17,750 36,500 39,000 17,250 35,500 37,000 16,500 34,000 34,000 15,500 32,000 30,000 14,250 29,500 25,000 12,750 26,500 19,000 11,000 23,000 12,000 130,000 300,000 250,000 approximately 46% approximately 54% approximately 57% approximately 61% Industry D Refer to Table 16-3. What is the concentration ratio for Industry B?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter15: Oligopoly And Strategic Behavior

Section: Chapter Questions

Problem 12P

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