Asked by
Noshin Saiyara
on Nov 05, 2024
Verified
The share of industry output accounted for by the top firms in an industry is the industry's concentration ratio.
Concentration Ratio
A measure used in economics to assess the extent of market control held by the largest firms within an industry.
- Interpret the role of concentration ratios in evaluating industry market structure.
Verified Answer
AS
Learning Objectives
- Interpret the role of concentration ratios in evaluating industry market structure.