If Barriers to Entry Are High and Products Are Somewhat

question 19

Multiple Choice

If barriers to entry are high and products are somewhat differentiated,then

• A) the industry is probably perfectly competitive.
• B) the industry is probably monopolistically competitive.
• C) the industry is probably a differentiated monopsony.
• D) economic profit might be sustainable.
• E) the situation cannot exist.

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Definitions:

Eyewitness Memory

The ability of a person who has witnessed a crime or event to remember and describe specific details about what they saw.

Preschool-aged Child

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Whole-language Approach

An educational method for teaching reading that emphasizes the understanding and meaning of words in context rather than focusing on phonics and decoding skills.

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