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Mikayla Edwards
on Nov 26, 2024

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An industry having a four-firm concentration ratio of 85 percent

A) approximates pure competition.
B) is monopolistically competitive.
C) is a pure monopoly.
D) is an oligopoly.

Four-Firm Concentration Ratio

A metric assessing the concentration of market power by adding the market shares of the four largest firms in an industry.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, perfect information, and easy entry and exit, leading to price-taking behavior.

Pure Monopoly

A market structure where a single seller exclusively provides a product or service with no close substitutes, controlling the entire market supply.

  • Acquire knowledge regarding the concept and features of oligopoly.
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Isaac ChalifouxNov 30, 2024
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