In Which of the Following Market Structures Are Entry Barriers

question 2

Multiple Choice

In which of the following market structures are entry barriers the highest?

• A)Perfect competition.
• B)Monopolistic competition.
• C)Oligopoly.
• D)Monopoly.

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Definitions:

Future Interest

A legal right to property or an estate that becomes possessible or enjoyable at a future date.

Third Party

An entity not directly involved in a contract or agreement but who may be affected by its outcomes or can affect its execution.

Remainder

The part of an estate that is left after all other bequests and debts have been satisfied.

Fee Simple

The most comprehensive ownership interest in real property, allowing the owner nearly unlimited control over the land.