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Concentration Ratio

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A firm's average cost is $20 and it charges a price of $20. The Lerner index for this firm is:
A industry is comprised of ten (10) firms, each with an equal market share. What is the 4-firm
Concentration ratio of this industry?

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Solution Summary

This solution explains how to determine a firm's concentration ratio.

Solution Preview

Note that AV = P, which means that the firm makes no economic profit. This firm must be a perfect ...

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