Question

Calculate this industry’s four-firm concentration ratio (show your work). Does the industry favor competition or concentration?...

Calculate this industry’s four-firm concentration ratio (show your work). Does the industry favor competition or concentration?

Firm Sales (millions)
======================================
Clucky’s Fried Chicken $25
Wings ‘R Us 15
Breaded Hens 75
Chicken Parts Restaurant   10
White Meat World 2
Dark Meat Deli 3

All other chicken restaurants $9,500 million
combined

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