Table 16-2The following table shows the total output produced by the top six firms as well as the total industry output for each industry.FirmIndustry J14,288Industry K7,878Industry LIndustry M1,55422,98712,1287,2421,48621,444311,1925,3211,29418,78743,2454,9001,28716,4542,4424,52691112,8901,0043,80074510,045Total55,05070,2507,340198,400Refer to Table 16-2. Which industry has the highest concentration ratio?O a. Industry MOb. Industry KO. Industry LO d. Industry J

Six- firm concentration ratio indicates the percentage of industry output produced by top six firms…

Firm Industry J Industry K Industry L 1,554 Industry M 22,987 21,444 14,288 7,878 12,128 7,242 1,486 3 11,192 5,321 1,294 18,787 14 3,245 4,900 1,287 16,454 15 2,442 4,526 911 12,890 1,004 3,800 70,250 10,045 198,400 745 Total 55,050 7,340 Refer to Table 16-2. Which industry has the highest concentration ratio? O a. Industry M Ob. Industry K

Firm Industry J Industry K Industry L 1,554 Industry M 22,987 21,444 14,288 7,878 12,128 7,242 1,486 3 11,192 5,321 1,294 18,787 14 3,245 4,900 1,287 16,454 15 2,442 4,526 911 12,890 1,004 3,800 70,250 10,045 198,400 745 Total 55,050 7,340 Refer to Table 16-2. Which industry has the highest concentration ratio? O a. Industry M Ob. Industry K

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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