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QUESTION 20 Table 16-2 The following table shows the total output produced by the top six firms as well as the total industry
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Answer #1

Ans: b) about 77%

Explanation:

Four firm concentration ratio = ( sum of top 4 companies share of output / Sum of industry output)

= ( 1554 + 1486 + 1294 + 1287 ) / 7340

= 5621 / 7340

= 0.7658 or 0.77

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