If Firms in a Market Have Been Prohibited from Reaching

question 53

Multiple Choice

If firms in a market have been prohibited from reaching the minimum efficient scale,

• A)the market is probably perfectly competitive.
• B)the market is probably a monopoly.
• C)mergers will result if the restrictions are eliminated.
• D)the LRATC curve has been shifting upward.
• E)the LRATC curve has been shifting downward.

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Definitions:

Quartet

In nuclear magnetic resonance (NMR) spectroscopy, a signal that is split into four separate peaks, indicating the presence of specific atomic environments in a molecule.

Triplet

In quantum mechanics, a term often used to describe a system (such as an atomic or molecular state) that has three closely related energy levels or sub-states.

Spectral Data

Information derived from the interaction of electromagnetic radiation with matter, used to analyze and identify substances.

IR

Infrared radiation or spectroscopy, a technique used to identify and study chemicals through their absorption of infrared light.