Which of the Following Is a Characteristic of a Contestable

question 34

Multiple Choice

Which of the following is a characteristic of a contestable market?

• A) long-run economic profit
• B) many firms that are small relative to the market
• C) high costs for entry and exit
• D) minimum-cost production methods

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Definitions:

Exploiting

Taking advantage of a situation or person typically in an unfair or unethical way to gain benefits.

WIIFM

"What's In It For Me?" - A question or mindset focusing on the personal benefits or rewards that can be gained from a situation or action.

Prosocial Behavior

Voluntary actions intended to benefit or help others.

Altruism

The selfless concern for the well-being of others, often leading to acts of kindness without expectation of reward.