What Term Describes a Market Where a Monopolist Cannot Raise

question 34

Multiple Choice

What term describes a market where a monopolist cannot raise price above long run average cost?

• A)Blockaded
• B)Perfectly contestable
• C)Accommodated
• D)Deterred
• E)Predatory

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Definitions:

Conduct

The manner in which a person behaves, especially in a particular place or situation.

Standard of Care

The degree of prudence and caution required of an individual who is under a duty of care, measured against what a reasonable person would do in similar circumstances.

Particular Expertise

Particular Expertise refers to specialized knowledge or skill in a specific area, often acquired through education, training, or extensive experience.

Doctor

A professional who is qualified to treat people who are ill, specializing in diagnosing and providing treatments to promote and restore health.