A Market Is Contestable If

question 153

Multiple Choice

A market is contestable if

• A)the number of firms is larger than oligopoly.
• B)firms spend a lot on advertising.
• C)there is free entry and exit.
• D)firms have kinked demand curves.

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Definitions:

Clinic Waiting Time

The duration a patient spends waiting to be seen by a healthcare professional after their appointment time or upon arrival.

Interval Estimate

A variety of values, gathered from sample sources, that is considered likely to envelop the value of a mysterious population parameter.

Profit Margin

A financial metric that calculates the percentage of revenue remaining after all expenses have been deducted from sales.

Sample Variances

A measure of dispersion that quantifies the spread of data points in a sample around the mean.