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)

Question

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

economyst · Answer

Do a little research, then take a shot, what do you think.

s · Answer

600,000