264 is the four-firm concentration ratio of this market.
What is ratio simple math?
- A ratio is an ordered pair of numbers a and b, written a / b where b does not equal 0. A proportion is an equation in which two ratios are set equal to each other.
- For example, if there is 1 boy and 3 girls you could write the ratio as: 1 : 3 (for every one boy there are 3 girls) 1 / 4 are boys and 3 / 4 are girls.
The top four firms in the industry have 10% , 8% ,8%, 6% of the market.
the four-firm concentration ratio of this market is
= (10² + 8² +8² + 6²
= 264
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