Ten firms compete in a market to sell product X. The total sales of all firms selling the product are GHS1 million. Ranking the firms’ sales from highest to lowest, we find the top four firms’ sales to be GHS175,000, GHS150,000, GHS125,000, and GHS100,000, respectively. Calculate the four-firm concentration ratio in the market for product X.

Ten firms compete in a market to sell product X. The total sales of all firms selling the product are GHS1 million. Ranking the firms’ sales from highest to lowest, we find the top four firms’ sales to be GHS175,000, GHS150,000, GHS125,000, and GHS100,000, respectively. Calculate the four-firm concentration ratio in the market for product X.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Monopolistic Competition, Oligopoly, And Game Theory

Section: Chapter Questions

Problem 3WNG

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