Refer to Table 16-2. What is the concentration ratio for Industry M? a. about 52% b. about 22% c. about 96% d. about 40%

Business

1 answer:

Harlamova29_29 [7]3 years ago

3 0

The concentration ratio for Industry M is 52%.

The concentration ratio of industry M can be determined by adding the the ratio of the output to the total output of each of the six firms together.

Ratio of firm 1's output to total output = 22,987 / 198,400 = 0.11586 = 11.59%
Ratio of firm 2's output to total output = 21,444 / 198,400 = 0.1081 = 10.81%
Ratio of firm 3's output to total output = 18,787 / 198,400 = 0.0947 = 9.47%
Ratio of firm 4's output to total output = 16,454 / 198,400 = 0.0829 = 8.29%
Ratio of firm 5's output to total output = 12,890 / 198,400 = 0.065 = 6.5%
Ratio of firm 6's output to total output = 22,987 / 198,400 = 0.0506 = 5.06%

Sum of the percentages = 51.72%

Please find attached a table used to answer the question. A similar question was answered here: brainly.com/question/14903886

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b.$296,500.

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