Consider the following characteristics of a particular industry: - there is freedom of entry and exit
- in long- run equilibrium,each firm is producing a level of output where there are increasing returns to scale
This industry is likely to be
A) monopolistically competitive.
B) an oligopoly.
C) perfectly competitive.
D) a cartel.
E) highly concentrated.
Correct Answer:
Verified
Q16: Q17: The diagram below shows selected cost and Q18: The diagram below shows demand and cost Q19: The diagram below shows demand and cost Q20: The diagram below shows demand and cost Q22: The sugar industry in Canada is effectively Q23: The table below shows the market Q24: With respect to imperfectly competitive markets,an "administered" Q25: Suppose two firms,Allstom from France,and Bombardier Q26: In imperfectly competitive markets,"administered" prices usually change
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents