For Which of the Following Market Structures Is It Assumed

question 89

Multiple Choice

For which of the following market structures is it assumed that there are barriers to entry?

• A) Perfect competition
• B) Monopolistic competition
• C) Monopoly
• D) all of the above
• E) B and C only

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Definitions:

Natural Resources

Environmental assets such as minerals, woodlands, bodies of water, and cultivable land, available in nature and exploitable for economic growth.

Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, and stock exchanges.

Capital Infrastructure

Fundamental facilities and systems serving a country, city, or area, including transportation, communications, sewage, water, and electric systems, that are necessary for economic activity.

Primary Products

Basic commodities that are used as inputs by other industries for production processes, including agricultural products, minerals, and raw materials.