Examlex
Alphonse and Justyn joined a group of environmental activists who marched in front of the Canadian Parliament buildings and then in from of the Alberta Legislature to protest the further development of the "oil sands" in Alberta. According to the text, why is extracting oil from bituminous sands or "oil sands" a contentious process?
Normal Profit Rate
Zero economic profit, providing just the competitive rate of return on the capital (and labor) of owners. An above-normal profit will draw more entry into the market, whereas a below-normal profit will lead to an exit of investors and capital.
Contestable Market
A market where companies can enter and exit freely, with low barriers to entry and exit, leading to competitive prices and efficient outcomes.
Low Entry And Exit
Refers to markets where there are minimal barriers to starting or exiting a business, leading to high levels of competition and innovation.
Highly Contested
Describes a situation, item, or issue that is the subject of intense competition or dispute among parties.
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