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The total output of the chair industry is 2,000 chairs per month. If firms A, B, C, and D are the four largest firms in the industry, calculate the four-firm concentration ratio for the chair industry by finding out what percentage of the total output the four firms are responsible for. Round your answer to the nearest whole percent.

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betikuadeniyi

Answer:

Step-by-step explanation:

To calculate concentration ratio,

CR4 = (X1 + X2 + X3 + X4) / T

In this equation:

X is the total sales of an individual company (sales figures for the four largest firms are used in the four-firm concentration ratio)

T is the total sales of the industry or market in question.

From the question, T was given as 2000, but individual sales of this companies were not given.

We have

CR4= (A+B+C+D)/2000

I believe the information provided in the question is not sufficient to determining percentage of the total output the four firms are responsible for.

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