Since we live in a world of high concentration ratios,
A) goods are produced at the lowest possible average total cost
B) perfect competition does not exist
C) most markets operate under conditions of monopoly
D) prices are at their lowest possible levels
E) it is an economic paradise

Question

Quizplus · Accepted Answer

High concentration ratios indicate that a few firms dominate the market, which means perfect competition, characterized by many small firms, does not exist.

Since We Live in a World of High Concentration Ratios