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19 May, 20:18

Total industry sales are $100 billion. The four largest firms have sales of $35 billion, $17 billion, $6.8 billion, and $2.2 billion. The industry's approximate four-firm concentration ratio is

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  1. 19 May, 20:37
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    Answer: The industry's approximate four-firm concentration ratio is 61%

    Explanation:

    Hi, to answer this question, first we have to sum all the four firms sales:

    Mathematically speaking:

    35 + 17 + 6.8 + 2.2 = 61 billion

    Now, we have to divide the result by the total industrial sales:

    61 billion / 100 billion = 0.61

    To express it as a percentage we have to multiply it by 100

    0.61 x 100 = 61%

    The industry's approximate four-firm concentration ratio is 61%

    Feel free to ask for more if needed or if you did not understand something.
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