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QUESTION

The following firms are all the firms in the industry, listed in order of sales.

2.                 The following firms are all the firms in the industry, listed in order of sales.

Firm A           18,000                                                Firm E            2,500

Firm B            14,000                                                Firm F            2,000

Firm C             7,000                                                Firm G           1,600

Firm D            3,700                                                Firm H           1,200

Find the concentration ratio. Is this firm in monopolistic competition or a less competitive market?

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