A Market Is Defined as Contestable If Entry to It

question 207

Multiple Choice

A market is defined as contestable if entry to it

• A) is easy, but exit from it is difficult.
• B) is difficult, but exit from it is easy.
• C) and exit from it are both difficult.
• D) and exit from it are both easy.

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Definitions:

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business.

Total Revenue

The complete amount of income generated by a business or entity from its activities, before any expenses are deducted.

Sole Proprietorships

A business owned and operated by one individual, without any legal distinction between the owner and the business.

Unincorporated Business Associations

Groups or partnerships operating a business without forming a legal corporation, thus not enjoying the benefits or protections of corporate status.