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Business, 14.07.2019 15:00 cireland

Suppose an industry is made up of 16 firms. three firms each sell 12 percent of the industry's total output; another three firms each sell 8 percent; another five firms each sell 5 percent; and the last five firms each sell 3 percent. what is the eight-firm concentration ratio in this industry? a. 1.40 b. 0.85 c. 0.70 d. 0.40 e. 0.50

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