The table represents the market share of the 10 largest steel producers. Firm Market Share (%)...

Question

Question

The table represents the market share of the 10 largest steel producers.

What is the four‑firm concentration ratio for the steel industry represented in the table? Round your answer to the nearest tenth.

four‑firm concentration ratio:

Answer 1

Answer #1

The four-firm concentration ratio is the sum of the market shares of top 4 steel producers.

= 23+19+15+10.4 = 67.4. There is a medium level of concentration in this industry.

Answer 2

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