Which of the Following Is a Feature of a Contestable

question 123

Multiple Choice

Which of the following is a feature of a contestable market?

• A) There are several firms in the market serving many consumers.
• B) There is a single firm in the market serving many consumers.
• C) The market price is equal to marginal cost.
• D) There is a single firm in the market serving many consumers and the market price is equal to marginal cost.

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Definitions:

Lowe's Companies, Inc.

An American retail company specializing in home improvement that operates a chain of retail stores across the United States and Canada.

Political Clout

The degree of influence or power an individual or organization possesses within political circles or over political decisions.

Organization Chart

A diagram that shows the structure of an organization, including the relationships and relative ranks of its parts and positions/jobs.

Organizational Strategy

A plan of action designed to achieve a long-term or overall aim within an organization.