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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
The inverted-U theory suggests that R&D expenditures as a percentage of sales ____________ with industry concentration after the four-firm concentration ratio exceeds about 50 percent.
a. Rise.
b. Fall
c. Fluctuate
. d. Flat-line
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