Question: Short Answer Questions 40 Points Total Directions: Please answer the questions in the space provided. Points for each question are shown in parentheses. Refer to

Short Answer Questions 40 Points Total Directions: Please answer the questions in the space provided. Points for each question are shown in parentheses. Refer to the pie chart shown here for questions 11-14, which are about the U.S. cereal market. Assume that the wedge marked 'Private Label' represents the combined market share of several manufacturers, and therefore, Quaker is the fourth largest cereal producer. 11. (4 points) Calculate the 4-firm concentration ratio for the U.S. cereal industry

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