Asked by
Ashlyn Gordon
on Oct 12, 2024
Verified
A low concentration ratio would most likely indicate that the industry resembles the behavior of a (n)
A) cartel.
B) monopolistic competitor.
C) monopoly.
D) oligopoly.
Concentration Ratio
A measurement of the market share held by the largest firms within an industry, indicating the degree of market control.
Monopolistic Competitor
A business operating in a market structure characterized by many firms selling products that are similar but not identical, allowing for significant differentiation and competition.
- Examine the distinguishing characteristics and behaviors of various market structures, including perfect competition, monopolistic competition, oligopoly, and monopoly.
Verified Answer
NP
Learning Objectives
- Examine the distinguishing characteristics and behaviors of various market structures, including perfect competition, monopolistic competition, oligopoly, and monopoly.