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Question
Suppose that an industry consists of 100 firms, and the top 4 firms have annual sales of $1 million, $1.5 million, $2 million, and $2.5 million, respectively. If the entire industry has annual sales of $8.5 million, the four-firm concentration ratio is approximately
A) 82 percent.
B) 50 percent.
C) 94 percent.
D) 70 percent.
Answer
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