The concentration ratio for the industry

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Imagine that a friend approaches you with a business idea. They tell you that they have determined that the concentration ratio for the industry in which they plan to compete is a 68%. What might you most likely conclude:

The proposed firm will have very little pricing power.

The proposed firm will face only minimal barriers to entry.

The proposed firm may face competition from some very large firms.

The proposed firm will not succeed as this industry is dominated by a monopolist.

Reference no: EM131372541

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