Solved:
Answered by AI, Verified by Human Experts
an industry having a four-firm concentration ratio of 85 percent: group of answer choices approximates pure competition. is monopolistically competitive. is a pure monopoly. is an oligopoly.
an industry having a four-firm concentration ratio of 85 percent: group of answer choices approximates pure competition. is monopolistically competitive. is a pure monopoly. is an oligopoly.
Final answer:The industry with a four-firm concentration ratio of 85 percent indicates anoligopoly.Explanation:A four-firmconcentration ratiois a tool used to measure the degree of monopoly power in an industry. It measures the combined market share of the largest four firms in theindustry. In this case, the industry has a four-firm concentration ratio of 85 percent, which indicates a high level of concentration andsuggeststhat the industry is an oligopoly. In anoligopoly, a small number of firms dominate the market and havesignificantcontrolover prices and output.Learn more about Oligopoly here:brainly.com/question/18686878#SPJ11...
Unlock full access for 72 hours, watch your grades skyrocket.
For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.