Which of the Following Statements Is TRUE About Contestable Markets

question 64

Multiple Choice

Which of the following statements is TRUE about contestable markets?

• A)There are significant barriers to entry.
• B)Firms earn large economic profits.
• C)Each firm faces a perfectly elastic demand.
• D)There are few firms in the industry.
• E)None of the above.

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Definitions:

Psychoanalytic Therapists

Mental health professionals who employ theories and techniques based on Freudian and post-Freudian psychology to treat patients.

Define Success

A process of achieving one's goals, aspirations, or standards, often marked by a sense of fulfillment or accomplishment.

Performance Goals

Targets or objectives set to achieve specific standards of competence within a given task or activity.

Striving

The act of making great efforts towards achieving a goal or reaching a higher standard.