Suppose the Market for Good X Has a Four-Firm Concentration

Multiple Choice

Suppose the market for good X has a four-firm concentration ratio of 0.70.Having worked for the four largest firms in the industry,you know the sales for these four firms are given by $200,000,$225,000,$250,000,and $275,000.Based on this information,we know that sales for the remaining firms in the industry are:

A) $943,332.
B) $687,500.
C) $550,500.
D) $407,143.