Asked by Carol

Suppose the market for good X has a four-firm concentration ratio of 0.50. Furthermore, assume that total sales in the industry are $1.2 million. Based on this information we know that sales for the largest four firms in the industry equals (in aggregate)
A. $600,000
B. $60,000
C. $2,400,000
D. $240,000
Answered by economyst
Do a little research, then take a shot, what do you think.
Answered by s
600,000
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