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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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