If a Market Is Contestable, Then

question 128

Multiple Choice

If a market is contestable, then

• A)a cartel will form in the industry.
• B)economic profits are small or zero.
• C)firms face a vertical demand curve.
• D)there is a dominant firm in the market.
• E)none of the above

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Definitions:

Psychoeducation

The process of educating individuals with psychological conditions and their families about the nature of the condition, treatment options, and strategies for managing symptoms.

Medication

Substances used in treating illness or relieving pain; may refer to over-the-counter or prescription drugs.

Ego State

A concept in psychology that describes different parts of the mind or self that function with some degree of autonomy, such as the parent, child, and adult ego states in transactional analysis.

Decision-Making

The cognitive process of choosing a course of action from among multiple alternatives, often based on reasoning or instinct.