Table 16-3
The following table shows the output produced by each of the top eight firms in four industries as well as the total industry output for those industries.
-Refer to Table 16-3. Based on the concentration ratio, which industry is the least competitive?
A)Industry A
B)Industry B
C)Industry C
D)Industry D

Question

Table 16-3
The following table shows the output produced by each of the top eight firms in four industries as well as the total industry output for those industries. 
-Refer to Table 16-3. Based on the concentration ratio, which industry is the least competitive?
A)Industry A 
B)Industry B 
C)Industry C 
D)Industry D

Quizplus · Accepted Answer

The concentration ratio indicates the market share of the largest firms in an industry. A higher concentration ratio suggests less competition. Industry A likely has the highest concentration ratio, making it the least competitive.

Table 16-3 the Following Table Shows the Output Produced by Each of Each