Examlex
The first genuine computer-based model of problem-solving behavior was __________.
Contestable Markets
Markets where entry and exit are costless or very low, making the market susceptible to potential competition.
Differentiates Oligopoly
A characteristic of oligopoly markets where few firms dominate and each firm tries to distinguish its product or service from those of competitors.
Contestable
A market characteristic where there are no barriers to entry or exit, allowing potential competition to challenge existing firms, keeping prices competitive.
Market
A market is any structure that allows buyers and sellers to exchange any type of goods, services, and information.
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