EIGHT-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the eight largest firms in the industry. This is one of two common concentration ratios. The other is the four-firm concentration ratio. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the eight largest firms in the industry.

     See also | concentration ratio | four-firm concentration ratio | market share | market control | oligopoly | monopolistic competition |

EIGHT-FIRM CONCENTRATION RATIO, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 22, 2018].

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The change in total revenue resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal revenue product, usually abbreviated MRP, is found by dividing the change in total revenue by the change in the variable input or by multiplying marginal physical product by marginal revenue. This is also termed value of the marginal product. Marginal revenue product is a key concept for understanding the demand for productive inputs.

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