No. A "concession" is a response to demands. An issue of power. An "admission" is a statement acknowledging the truth. Your being wrong merits the latter. It's not about power. It's about truth.
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Marcy is it possible you are being a stickler on this one? Seems like the fella admitted he was factually wrong.
In the context of him being condescending, I do think the correct word is merited. Especially since elsewhere he repeatedly appoints himself the arbiter of truth.
