If the Four-Firm Concentration Ratio for an Industry Is 84

Multiple Choice

If the four-firm concentration ratio for an industry is 84 percent, then

A) each of the firms account for 21 percent of total sales.
B) the four largest firms in the industry account for 16 percent of the total sales.
C) the four largest firms in the industry account for 84 percent of the total sales.
D) the remaining firms in the industry accounts for 84 percent of the total sales.