A Market Which Firms Can Enter If They Choose and Exit

question 130

Multiple Choice

A market which firms can enter if they choose and exit without losing money invested is

• A)pure monopoly.
• B)duopoly.
• C)contestable.
• D)a market where there are kinked demand curves.

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Definitions:

Interstate Highway System

A network of controlled-access highways in the United States, established by the Federal Aid Highway Act of 1956, designed to promote efficient transportation of goods and individuals across states.

Civilian Aviation Research

Scientific study and technological development focused on improving aspects of non-military aviation, such as safety, efficiency, and environmental impacts.

Urban Mass Transit

refers to public transportation systems within cities and urban areas, including buses, subways, trams, and light rail, designed to facilitate the movement of large numbers of people.

Price Controls

Government-imposed limits on the prices that can be charged for goods and services in a market.