Sapling tearning Industry Four-Finm Industry oucFrmMost economists define an oli

Question

Sapling tearning Industry Four-Finm Industry oucFrmMost economists define an oligapaly if there Concentration Concentration Ratio is a four-firm concentration rato of what in an industry? Discount |9796 Cigarettes | 98% 85% stores 24% 90% warehouse clubs and supercenters Beer 65% College bookstores 75% Computers | 87% | 72% Aircraft 81% Hobby, toy, and game stores Please reference the table to the left. Which of the following industries are considered oligopolies according to this standard? Discount department stores Pharmacies and drugstores | 80% Breakfast cereal Radio television and other electronic stores Dog and cat | 71% food 68% Athletic footwear Dog and cat food stores Automobiles Pharmacies | 63% Automobiles | 68% From U.S. Census Bureau, Concentration Ratios, 2007. O Previous Grve Up & View Solution -Check AnswerNext a Exit

Explanation / Answer

1. 40%

2. (A) Discount department store

Reason: A market is considered oligopoly if it's four firm concentration ratio exceeds 85%

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