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Question
Using the information in the table, develop the four-firm concentration ratio. Would you classify this industry as an oligopoly? Explain your answer.
| Firm | Annual Sales ($ millions) |
| 1 | 350 |
| 2 | 200 |
| 3 | 150 |
| 4 | 100 |
| 5 | 40 |
| 6 through 20 | 20 |
| 810 |
Answer
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