ECON 1010 Study Guide - Final Guide: Nash Equilibrium, Indeterminate Form, Natural Monopoly
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Industry a has two frims that each control 50% of the market. Industry b has three firms, where one firm controls 70% of the market and the other two firms control 15% of the market each. Industry b: both industries are equally concentrated, indeterminate from the given information. If the government stops enforcing its collusion laws and oligopolies are now able to collude, they will ____ the price charged and ____ the total output produced: increase; increase. million each, the third largest firm has sales of million, and the fourth largest firm has sales of million. The four-firm concentration ratio for the industry is 1 24% + 2 24% + 3 8% + 4 4: 36 percent, 60 percent, 50 percent, 25 percent, suppose there are four firms in an industry. The market shares of the four firms are 5%, 20%,
