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If the four-firm concentration ratio for industry X is 70: Group of answer choices the industry is oligopoly. the industry is monopolistically competitive. the four largest firms account for 20 percent of total sales. each of the four largest firms accounts for 20 percent of total sales.

Respuesta :

Answer:

the industry is oligopoly.

Explanation:

The four-firm concentration ratio calculates the market share of the 4 largest firms in an industry

If the concentration ratio is between 0 - 50%, the firm is a pure competition

If the concentration ratio is over 60%, the firm is an oligopoly

A concentration ratio of 100% indicates that the firm is a monopoly.

I hope my answer helps you

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