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The following table shows the percentage of output supplied by the top eight firms in four different industries. (4 Points) Firm Industry A Industry B
The following table shows the percentage of output supplied by the top eight firms in four different industries. (4 Points)
Firm | Industry A | Industry B | Industry C | Industry D |
1 | 0.24 | 0.46 | 0.10 | 0.32 |
2 | 0.13 | 0.24 | 0.08 | 0.16 |
3 | 0.10 | 0.10 | 0.06 | 0.08 |
4 | 0.08 | 0.05 | 0.05 | 0.04 |
5 | 0.05 | 0.04 | 0.04 | 0.02 |
6 | 0.03 | 0.03 | 0.03 | 0.01 |
7 | 0.02 | 0.02 | 0.02 | 0.01 |
8 | 0.01 | 0.01 | 0.01 | 0.01 |
a.What is the concentration ratio in Industry C?
b.What is the concentration ratio in Industry B?
c. From the concentration ratios you calculated what type of industry is represented by C and what type of industry is represented by B?
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