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One of the Necessary Conditions for a Contestable Market Is

question 7

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One of the necessary conditions for a contestable market is that new firms entering the market have a cost advantage over the existing firms.


Definitions:

Marketplace

A venue, physical or digital, where goods, services, or information are exchanged.

Service

The act of providing assistance, work, or information to fulfill the needs or requirements of others.

Concept

An abstract idea or a general notion that exists in the mind as a result of mental understanding, awareness, or activity.

New-To-The-Market Products

Inventions that have never before been seen and create a new market.

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