Long run adjustments, Industry structure is often measured

Long run adjustments

Reference no: EM1369941

Industry structure is often measured by computing the Four-Firm Concentration Ratio. Assume you have an industry with 20 firms and the CR is 30%. How would I describe this industry? Suppose the demand for the product rises and pushes up the price for the good. What long-run adjustments would I expect following this change in demand? What does my adjustment process imply about the CR for the industry?

Reference no: EM1369941

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