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Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2 million. Ranking the firms
Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2 million. Ranking the firms sales from highest to lowest, we find the top 4 firms sales to be $260,000, 220,000, 150, 000and 130, 000 respectively. Calculate the four firm concentration ratio in the market for product X.
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