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al in the blanks to make the following statements correct Questione - Suppose the four largest steel producers in Canada cont
total market sales Suppose the relevant market for clothing has ten firms. These of the fans each have 16.0 percent of total
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Answer #1

1) Concentration ratio = s1+ s2 +s3+…..+ sn
where sn = the market share percentage of firm n

Given, the concentration ratio of the four dominant firm is 85%
Since the top four-firm accounts for more than 60% of the total market share thus their exists oligopoly and thus the industry is highly concentrated.

2) Concentration ratio = s1+ s2 +s3+…..+ sn
where sn = the market share percentage of firm n

Thus, the concentration ratio of the four dominant firm = 16+16+16+8 = 56%

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