The following table gives annual sales for firms in the gadg

The following table gives annual sales for firms in the gadget industry Annual Sales ($ millions) 80 40 32 28 24 Firm 2 3 4 All other firms The four-firm concentration ratio in this industry is %. (Round your answer to two decimal places)

Solution

Total Sale = 80 + 40 +32 +28 +24 = 204

Sale by four firms: 80 + 40 + 32 + 28 =180

Concentration Ratio of firm 4 firms = (180/204) *100

= 88.23 %