Even When There Are Only a Few Firms in a Market

question 100

Multiple Choice

Even when there are only a few firms in a market, the market can still be competitive as long as barriers to entry are low. Markets of this type are called

• A) monopolistic markets.
• B) price-taker markets.
• C) contestable markets.
• D) convertible markets.

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Definitions:

Input Technologies

Technologies that allow users to input data into a computer or other digital devices, including keyboards, mice, and touchscreens.

Instructions

Directions or orders given by one entity to another, detailing how tasks should be performed or operations conducted.

Computer

An electronic device capable of processing data according to a set of instructions to produce outputs.

Secondary Storage

Non-volatile storage that holds data permanently until it is deleted or overwritten, often used for data backup and archiving.