1. Refer to the table below. Using the four-firm concentration ratio, the upholstered furniture industry is best categorized as what type of market structure? Why?

Table info is: Industry: Tires, Upholstered furniture

Number of sellers: 15(tires), 2,000 (u.f)

% of shipments accounted for by the 4 largest companies: 95% (tires), 15%(u.f)

1. Refer to the table below. Using the four-firm concentration ratio, the upholstered furniture industry is best categorized as what type of market structure? Why