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Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2,000,000. Ranking the firms’ sales from highest to lowest, we find the top four firms’ sales to be $260,000, $220,000, $150,000, and $130,000, respectively. Calculate the four-firm concentration ratio in the market for product X.

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Four firm concentration ratio = (top four firm sales / total sales) * 100 = ((260,000 + 220,000 + 150,000 + 130,000) / 2,000,000) ) * 100 = (760,000 / 2,000,000) * 100 = 0.38 * 100 = 38%

so the four firm concentration ratio is 38%

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