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Market structure best characterizes the industry

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You manage a firm that competes against many other firms. Over the last two decades, several firms have entered this industry and as a consequence, you are earning a return on investment that roughly equals the interest rate. Furthermore, the four-firm concentration ratio and the Herfindahl-Hirschman Index are both very small and the Rothschild index is very close to zero. Also, your Lerner Index is zero. Based on this information, fully explain to your boss which market structure best characterizes the industry in which you compete.

Reference no: EM132482264

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