Suppose you are the manager of a medium-sized firm that operates in an industry that has a four-firm concentration ratio of 100 percent. All firms in...

Suppose you are the manager of a medium-sized firm that operates in an industry that has a four-firm concentration ratio of 100 percent. All firms in the industry are of equal size. In order to determine your firm's optimal output and price, you must obtain information about how rivals would respond to changes in your decisions. If you were the manager, how would you obtain this information?

Information about rival’s can easily be obtained as it is an open market system and informationexchange invariably happens in the market. Competitors information is always available fromsources...