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1) The four-firm measures the percentage share of the total sales in the industry that is accounted for by the largest four firms
1) The four-firm measures the percentage share of the total sales in the industry that is accounted for by the largest four firms.
A) Coordination ratio
B) Production ratio
C) Concentration ratio
D) Market share ratio
2) When the regulators sets a price that a firm cannot exceed over that next few years, the regulator is enforcing:
A) Regulatory capture rules
B) Deregulation
C) Cost-plus regulation
D) Price cap regulation
3) The term refers to the percentage share of a firm's total sales in the market.
A) Market share
B) Concentration ratio
C) Market cap
D) Total market ratio
Expert Solution
The answer is C).
The four-firm concentration ratio is a measure of the degree of competition in a market, which is calculated as the sum of the shares of total sales by the largest four firms in an industry.
The answer is D).
Price cap, also known as price ceiling, is an externally imposed upper bound on the price of a good. When the price gap is below the equilibrium price, the cap is said to be binding. Examples of price cap include rental control.
The answer is A).
The market share of a firm indicates the portion of a market that is controlled by a firm. One way to measure this is the share of total market sales accounted by the firm.
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