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The following table shows the dollar amount of sales in 2016 for the four largest firms in the above-ground pool industry. Total industry sales in...
The following table shows the dollar amount of sales in 2016 for the four largest firms in the above-ground pool industry. Total industry sales in 2016 were $467,000. Use this table to answer the following questions:
Firm NameSales in 2016Clear Water Island$112,000Poolside Paradise 47,000Nautical Waters 19,000Sunny Plastics 14,000All other firms in industry combined 275,000
If Clear Water Island acquired Poolside Paradise, the concentration ratio would ________ and the market price of pools would likely ________.
decrease; fall
increase; fall
decrease; not change
decrease; rise
increase; rise
