Consider data on us refrigerator sales from 2009 the market, Business Economics

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Consider data on us refrigerator sales from 2009 the market

Consider data on U.S. Refrigerator sales from 2009. The market shares of the top 4 firms was 12% for Sears, 9% for Lowes, 5% for Walmart, and 3.5% for Home Depot. Firms 5 through 25 combined summed to 20.5%m and all other independents outside the top 25 selling firms comprised the other 50% of industry sales. a. What is the 4-firm concentration ratio for this industry?

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