In a Sequential Contestable Market Game

question 178

Multiple Choice

In a sequential contestable market game

• A) a small number of firms can behave like firms in perfect competition.
• B) the outcome is always a monopoly equilibrium.
• C) the dominant firm always makes a monopoly profit, while other firms make zero economic profits.
• D) a firm that enters the market first is protected from potential entrants by natural barriers.

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Definitions:

Employee Needs

The physical, emotional, social, and psychological requirements of employees that need to be met for them to perform their jobs effectively and remain satisfied and motivated.

Four-drive Theory

A theory positing that human behavior is driven by four fundamental needs or drives: the drive to acquire, bond, learn, and defend.

Reactive

A response or behavior that occurs as a result of external stimuli, rather than initiating action proactively.

Proactive

An approach characterized by taking initiative and anticipatory actions to influence an outcome, rather than reacting to events after they occur.