When a Market Consists of a Few Large Firms and Barriers

question 147

Multiple Choice

When a market consists of a few large firms and barriers to entry exist,it:

• A) must be perfectly competitive.
• B) is likely an oligopoly.
• C) must be monopolistically competitive.
• D) is likely a monopoly.

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Definitions:

Physiological Arousal

The activation of the body's central nervous system, leading to physical responses such as increased heart rate and muscle tension.

Conscious Experience

The subjective awareness of one's thoughts, feelings, and environment, accessible to introspection and report.

Sexual Orientation

An enduring pattern of emotional, romantic, or sexual attractions to men, women, both, neither, or another gender.

Particular Gender

A specific gender identity that an individual personally identifies with, which may or may not correspond with their biological sex.