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:

Mixed Subsistence Strategy

A way of living that involves combining different methods of obtaining food, such as hunting, gathering, farming, and trading.

Geographical Region

A specific area or section of the world identified by physical, political, or cultural traits.

Industrial Food Production

Large-scale businesses involved in mass food production, processing, and marketing, which primarily rely on labor-saving machines.

Greatest Drawback

The most significant disadvantage or negative aspect associated with a particular situation, decision, or object.