Calculate the four-firm concentration ratio in the market, Microeconomics

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Calculate the four-firm concentration ratio in the market

Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $3,000,000. Ranking the firms' sales from highest to lowest, we find the top four firms' sales to be $410,000, $355,000, $295,000, and $205,000, respectively.

Calculate the four-firm concentration ratio in the market for product X

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Microeconomics: Calculate the four-firm concentration ratio in the market

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Microeconomics: Calculate the four-firm concentration ratio in the market

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