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Suppose an industry is made up of 22 firms. Two firms cach sell 10.5 percent of the industry's total output; another three firms each sell

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Suppose an industry is made up of 22 firms. Two firms cach sell 10.5 percent of the industry's total output; another three firms each sell 9 percent, another six firms each rell 5 percent; and the last eleven firms each sell 2 percent. What is the eight-firm concentration ratio in this industry? O a. 0.39 6.0.63 O co.so O d. 0.45 O e. 1.40

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