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? (hint: From the Class Notes on Ch.16, by definition concentration ratio is based on the sum of output by how many firms?) (1 point) b. What is the concentration ratio in Industry B? (1 point) c. From the concentration ratios you calculated what type of industry is represented by C and what type of industry is represented by B? (2 points)