Consider the Following Characteristics of a Particular Industry: - There

question 12

Multiple Choice

Consider the following characteristics of a particular industry: - there is freedom of entry and exit
- in long- run equilibrium,each firm is producing a level of output where there are increasing returns to scale
This industry is likely to be

• A)monopolistically competitive.
• B)an oligopoly.
• C)perfectly competitive.
• D)a cartel.
• E)highly concentrated.

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Definitions:

Pastry

A type of baked goods typically made from ingredients like flour, water, and shortening that can be sweet or savory.

Streusel Topping

A crumbly topping made from a mixture of butter, flour, sugar, and often nuts or spices, used on baked goods.

Chronological

Describes something arranged in the order of time, from the earliest to the latest.

Blogs

Regularly updated websites or web pages, typically run by an individual or small group, that are written in an informal or conversational style.