Ten firms compete in a market to sell product x the total, Business Economics

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Ten firms compete in a market to sell product x the total

Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $1,500,000. Ranking the firms’ sales from highest to lowest, we find the top four firms’ sales to be $225,000, $195,000, $165,000, and $110,000, respectively. Calculate the four-firm concentration ratio in the market for product X.

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Business Economics: Ten firms compete in a market to sell product x the total

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