Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent, 9 percent, and 8 percent. The four-firm concentration ratio for the hamburger industry in this town is percent. (Enter your response as a whole number.)
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent, 9 percent, and 8 percent. The four-firm concentration ratio for the hamburger industry in this town is percent. (Enter your response as a whole number.)
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 11SQP
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![Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent,
9 percent, and 8 percent.
The four-firm concentration ratio for the hamburger industry in this town is
percent. (Enter your response as a whole number.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f033dd9-ee34-45c2-8599-79cc4163f128%2F8d80ae76-ad94-48da-8a8b-ef4f5d83947b%2F8grfjxn_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 22 percent, 22 percent, 18 percent, 11 percent, 10 percent,
9 percent, and 8 percent.
The four-firm concentration ratio for the hamburger industry in this town is
percent. (Enter your response as a whole number.)
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