A Contestable Market Is a Market

question 39

Multiple Choice

A contestable market is a market

• A) that is highly contested by two, and only two, rival firms.
• B) in which the costs of entry and exit are low.
• C) characterized by high profitability and government regulation.
• D) characterized by a large number of firms; in essence, the term means the same thing as pure competition.

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Definitions:

Dependability

The quality of being trustworthy and reliable, especially in delivering services or products.

Consistent Lead Time

The reliability and uniformity in the amount of time required for a product to be delivered or a service to be completed after an order is placed.

Safe Delivery

Assurance that a product, mail, or package is delivered to the recipient without damage or loss.

Complete Delivery

The successful delivery of all items or components of an order to the customer as expected.