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Suppose there are seven firms in a market where the three largest firms supply 2 0 % of the market - clearing quantity and the

Suppose there are seven firms in a market where the three largest firms supply 20% of the market-clearing quantity and the other four firms supply 10% of the market-clearing quantity. What is the five-firm concentration ratio (i.e., the share of total sales controlled by the five largest firms in the market)?
A)60%
B)70%
C)80%
D)90%
Answer: C
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