Which of the Following Is True of a Contestable Market

question 9

Multiple Choice

Which of the following is true of a contestable market?

• A)Competitors act like monopolists.
• B)Competitors act like consumers.
• C)Monopolists act like competitors.
• D)Monopolists act like consumers.
• E)Firms are controlled by the government.

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Definitions:

CIM

Computer-Integrated Manufacturing, an approach to manufacturing that involves the use of computers to control the entire production process, from design and manufacturing to product delivery.

MRP

Material Requirements Planning; a system for efficiently managing manufacturing processes, including inventory control, production planning, and scheduling.

TPS

Transaction Processing System, a type of information system that collects, stores, modifies, and retrieves the data transactions of an enterprise.

ERP II

Enterprise Resource Planning II, an evolution of ERP software that includes web-based collaboration and automation capabilities across an enterprise.