How does the term market power relate to the concentration ratio in a particular industry? define concentration ratio. what does four firm concentration ratio measure? explain how it measures this. the aircraft industry has a four-firm concentration ratio of 84.8 the mattress industry has a four-firm concentration ration of 38.6. interpret these numbers and compare the market power of firms in these two industries. 

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Market power refers to the ability of firms within an industry to influence market conditions such a... View the full answer