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Chicago and its suburbs is home to 35 Fortune 500 companies and is a transportation and distribution center. Manufacturing , printing , publishing , insurance , transportation, financial trading and services, and food processing also play major roles in the city's economy.
A simple measure of market concentration is to calculate 1/N where N is the number of firms in the market. A result of 1 would indicate a pure monopoly, and will decrease with the number of active firms in the market, and nonincreasing in the degree of symmetry between them.
Perfect competition exists where an industry's concentration ratio is CR n = n/N, where N is the number of firms in the industry. That is, all firms have an equal market share. Low concentration – 40% A concentration ratio of close to 0% implies perfect competition at the least. This is only possible in an industry where there is a very large ...
The correct sequence of the market structure from most to least competitive is perfect competition, imperfect competition, oligopoly, and pure monopoly. The main criteria by which one can distinguish between different market structures are: the number and size of firms and consumers in the market, the type of goods and services being traded ...
If the number of firms in the market is held constant, then a higher variance due to a higher level of asymmetry between firms' shares (that is, a higher share dispersion) will result in a higher index value. See the Brown and Warren-Boulton (1988) and Warren-Boulton (1990) texts cited below.
The Chicago metropolitan area – also known as "Chicagoland" – is the metropolitan area associated with the city of Chicago, Illinois, and its suburbs. [2] With an estimated population of 9.4 million people, [ 3 ] it is the third largest metropolitan area in the United States [ 4 ] and the region most connected to the city through geographic ...
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Chicago is also home to the largest futures exchange in the world, the Chicago Mercantile Exchange. Across the state, other Fortune 500 world headquarters based in Illinois include State Farm in Bloomington and John Deere in Moline. As of 2017, Illinois ranked fourth in the nation for the most Fortune 500 based companies with a total of 36. [8]