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:

Crowded Bus

A situation where a bus is filled to capacity or beyond, making it difficult for passengers to find space.

Testosterone

A type of steroid hormone essential for the growth of male genital organs and for the enhancement of secondary male features, including muscle and bone density increases, and body hair development.

Alcohol Consumption

The ingestion of alcoholic beverages, which can range from moderate drinking to excessive or binge drinking behaviors.

Minor Frustrations

Minor frustrations are small, daily challenges or irritations that can cause annoyance or stress.