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Which of the Following Is Likely to Be True in Markets

Question 24

Multiple Choice

Which of the following is likely to be true in markets that are not highly competitive?


A) The costs of production for a single firm are likely to be low.
B) The level of price competition is likely to be less severe.
C) It is likely that there is a large number of firms in the market.
D) The profits earned by firms in this market is likely to be low.

Correct Answer:

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