Suppose There Are Only Four Airlines That Service the Air

question 78

Multiple Choice

Suppose there are only four airlines that service the air route between two cities. If there is a barrier to entering the market (such as a limited number of gates) , the market is best characterized as:

• A) a pure monopoly.
• B) monopolistically competitive.
• C) oligopolistic.
• D) perfectly competitive.

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Definitions:

Worth

The total value of all financial and non-financial assets owned by an individual or business minus any liabilities.

One-time Investment

An investment made in a lump sum, as opposed to investing in smaller, incremental amounts over time.

Valued

Considered to have a specific worth or significance, often in monetary terms but can also refer to non-monetary aspects like cultural or intrinsic value.

One-time Investment

An investment made with a single lump-sum payment, as opposed to recurring investments.