companies. The example in the text breaks down the Cellphone Industry. They state that the total revenue of the cellphone service industry, of a recent year, was $117.1 billion. Of that total revenue AT&T received $30.8 bil, Verizon $29 bil, Sprint/Nextel $22.8 bil, and T-Mobile $13.3 bil. These four firms accounted for 82 percent of the cellphone service providing industry, 82 percent being the concentration ratio (576). Another important aspect of understanding oligopoly is by analyzing how firms determine…
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