Answered: 35. Use Table 11.5 to calculate the…

35. Use Table 11.5 to calculate the four-firm concentration ratio for the U.S. auto market. Does this indicate a concentrated market or not? GM 19% Ford 17% Toyota 14% Chrysler 11%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

D.In the middle of the twentieth century, major U.S.
cities had multiple competing city bus companies.
Today, there is usually only one and it runs as a
subsidized, regulated monopoly. What do you suppose
caused the change?

35. Use Table 11.5 to calculate the four-firm
concentration ratio for the U.S. auto market. Does this
indicate a concentrated market or not?
GM
19%
Ford
17%
Toyota
14%
Chrysler
11%

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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