Question

One measure of the extent of competition in an industry is the concentration ratio. what level of concentration indicates that an industry is an​ oligopoly? most economists believe that a​ four-firm concentration ratio of ▼ greater less than nothing percent indicates that an industry is an oligopoly. ​(enter your response as an​ integer.)

Answer 1

One measure of the extent of competition in an industry is the concentration ratio. what level of concentration indicates that an industry is an​ oligopoly? Most economists believe that a​ four-firm concentration ratio of greater than 40 percent indicates that an industry is an oligopoly.

An oligopoly is a market where there is a small number of large sellers. They dominate their market but also have their own market structure where they are able to keep a lot of firms from having influence over them.