Is an industry with a large number of firms?
Is an industry with a large number of firms?
Answer and Explanation: An industry with a large number of firms, differentiated products, and free entry and exit is called C) monopolistic competition.
What is the concentration ratio in industry A?
The concentration ratio is calculated as the sum of the market share percentage held by the largest specified number of firms in an industry. The concentration ratio ranges from 0% to 100%, and an industry’s concentration ratio indicates the degree of competition in the industry.
When four or fewer firms produce all of an industry’s output the four-firm concentration ratio is?
-When four or fewer firms produce all of an industry’s output, the four-firm concentration ratio is 1.
What is the four-firm concentration ratio quizlet?
The four-firm concentration ratio is the ratio of the output (sales) of the four largest firms in an industry relative to total industry sales.
What industries are monopolistic competition?
Monopolistic competition is present in many familiar industries, including restaurants, hair salons, clothing, and consumer electronics. A good example would be Burger King and McDonald’s. Both are fast food chains that target a similar market and offer similar products and services.
What are the 4 types of monopolies?
Four Types of Monopolies
- Natural Monopoly. Only one company providing a public good or service.
- Technological Monopoly. When a single firm has exclusive rights over the technology used to manufacture it.
- Geographic Monopoly.
- Government Monopoly.
- Least Threat:
- Four Types of Monopolies.
What is the meaning of a four-firm concentration ratio of 60 percent?
ANS: A four-firm concentration ration of 60 % means the largest four firms in an industry account for 60 % of sales; a four-firm concentration ratio of 90 % means the largest four firms account for 90 percent of sales.