Suppose that the four-firm concentration ratio for chewing gum is 87. This ratio indicates that: the chewing
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Question:
Suppose that the four-firm concentration ratio for chewing gum is 87. This ratio indicates that:
the chewing gum industry is highly competitive. | ||
the four largest chewing gum manufacturers account for 87 per cent of total sales. | ||
the four largest chewing gum manufacturers are the only producers of gum in the economy. | ||
13 percent of the chewing gum produced in the economy is produced by the four largest firms in the industry. |
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