The Lower the Barriers to Entry and Exit,the More Nearly

question 13

Multiple Choice

The lower the barriers to entry and exit,the more nearly a market structure fits the ____ market model.

• A) monopolistic competition
• B) perfectly contestable
• C) oligopoly
• D) monopoly
• E) none of the above

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Definitions:

Brand Image

The set of associations in a customer’s mind regarding a brand.

Customer's Mind

Refers to the perceptions, preferences, and psychological processes influencing a consumer's decision making and attitudes towards products or services.

Brand Associations

The thoughts, feelings, perceptions, and beliefs that consumers have about a brand.

Push Approach

A business strategy in which a company attempts to take (push) its products to consumers, often even if the consumers are not actively seeking those products.