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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 Preview

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

    Solution Summary

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