If Firms in a Market Have Been Prohibited from Reaching

question 53

Multiple Choice

If firms in a market have been prohibited from reaching the minimum efficient scale,

• A)the market is probably perfectly competitive.
• B)the market is probably a monopoly.
• C)mergers will result if the restrictions are eliminated.
• D)the LRATC curve has been shifting upward.
• E)the LRATC curve has been shifting downward.

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Definitions:

Self-adjusting

Refers to mechanisms or systems that automatically adjust parameters or settings to maintain or improve performance without manual intervention.

System-actuated Clutch

A clutch mechanism that is engaged or disengaged by an automated system, as opposed to requiring manual actuation.

Freightliner ServicePro

A software application used by Freightliner dealerships for vehicle diagnostics, service information, and maintenance management.

Logged Fault Codes

Recorded error messages generated by a vehicle's onboard diagnostics system, indicating issues for troubleshooting.