If It Is Not Profitable for More Than One Firm

question 167

Multiple Choice

If it is not profitable for more than one firm to be in an industry, we have an example of

• A) monopoly due to ownership of key resources.
• B) monopoly due to governmental entry restrictions.
• C) monopoly due to economies of scale.
• D) pure competition.

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Definitions:

Skewed to the Right

Describes a distribution of data that has a tail extending to the right, indicating that the majority of data points are on the left.

Sample Mean

The arithmetic average of a set of sample observations, used as an estimate of the population mean.

Sampling Distribution

The framework of chances for a specific statistic, selected randomly.

Normally Distributed

A type of continuous probability distribution for a real-valued random variable, where the data tends to cluster around a central mean value, forming a bell curve.