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:

Increasing pKa

This refers to the process or trend of increasing the acidity constant (pKa), indicating a decrease in acid strength.

Resonance Structures

Different Lewis structures for the same molecule that depict different possible arrangements of electrons.

AntiAromatic

Refers to organic compounds that are cyclic, conjugated, contain a planar ring system, but do not follow Huckel's rule, resulting in increased instability.

Pyrrole

A heterocyclic aromatic organic compound, a five-membered ring with the formula C4H5N, containing a nitrogen atom.