A Market Is NOT Contestable If

question 36

Multiple Choice

A market is NOT contestable if:

• A) all producers have access to the same technology.
• B) consumers respond quickly to a price change.
• C) existing firms cannot respond quickly to entry by lowering their price.
• D) there are sunk costs.

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Definitions:

Private Ownership

The legal right of individuals or corporations to own property and assets independently of government control.

Assimilation Policies

Governmental or organizational policies aimed at encouraging or forcing a minority group to adopt the culture, language, and norms of a dominant group.

Hunger Strike

A form of protest in which individuals refuse to eat to draw attention to their demands or to protest against something.

Idle No More

A grassroots movement among Indigenous peoples in Canada, advocating for Indigenous sovereignty, rights, and respect for treaties while opposing governmental policies considered to compromise these principles.