The Contestable Market Model Is the Oligopoly Model Which Results

question 19

Multiple Choice

The contestable market model is the oligopoly model which results in

• A) the greatest efficiency.
• B) the greatest inefficiency.
• C) the highest profits.
• D) the greatest deadweight loss.

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Definitions:

Consideration

In contract law, a crucial element that refers to something of value promised to another when making a contract.

Liquidated Debt

Debt for which there is no dispute between the parties about the fact that money is owed and the amount of money owed.

Enforceable Accord

An agreement that is legally binding and can be upheld in court.

Consideration

Something of value that is given by both parties to a contract as the agreed-upon price or exchange for the contractual promises.