If the Efficient Scale of Production Only Allows Three Firms

question 65

Multiple Choice

If the efficient scale of production only allows three firms to supply a market,the market is a

• A)three-firm monopoly.
• B)cost-based oligopoly.
• C)natural oligopoly.
• D)monopolistic competition.
• E)competitive monopoly.

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Definitions:

Final Contract

The conclusive agreement between parties, binding them to its terms and signaling the end of negotiations.

Financing Plan

A detailed strategy outlining how a project, purchase, or venture will be funded.

Initial Offer

The first proposal made by one party to another during negotiations.

Closing Of Escrow

The process by which a third party mediates and finalizes the transfer of property between two parties, ensuring that all legal and financial conditions are met.