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:

Natural Gas

A fossil fuel used as a source of energy for heating, cooking, and electricity generation, consisting mainly of methane and other hydrocarbons.

Hybrid Vehicles

Cars that use a combination of at least one electric motor alongside a gasoline engine to drive the vehicle, offering improved fuel efficiency and reduced emissions.

Left Shift

In programming, the operation of moving bits to the left in a binary number, effectively multiplying the number by a factor of two for each shift.

Quantity Demanded

The total amount of a product or service that consumers are willing and able to purchase at a given price.