A Market Is NOT Contestable If

question 36

Multiple Choice

A market is NOT contestable if:

• A) all producers have access to the same technology.
• B) consumers respond quickly to a price change.
• C) existing firms cannot respond quickly to entry by lowering their price.
• D) there are sunk costs.

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Definitions:

Sexual Orientation Discrimination

Unfair treatment of an individual based on their sexual orientation, prohibited in many jurisdictions.

Defense Marriage Act

A U.S. federal law enacted in 1996 that defined marriage as a union between one man and one woman for federal purposes, but was ruled unconstitutional in parts by the Supreme Court in 2013.

Equal Employment Opportunity Commission

A federal agency responsible for enforcing laws against workplace discrimination in the United States.

U.S. Civil Service Commission

This was a government agency responsible for overseeing the civil service of the United States, ensuring that its hiring and employment practices were based on merit. It has since evolved into the Office of Personnel Management (OPM).