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 $2,000,000,$2,250,000,$2,500,000,and $2,750,000.Based on this information,we know that sales for the remaining firms in the industry are:

A) $9,433,320.
B) $6,875,000.
C) $5,505,000.
D) $4,071,430.