Which of the following is a characteristic of a contestable market?
A) long-run economic profit
B) many firms that are small relative to the market
C) high costs for entry and exit
D) minimum-cost production methods
Correct Answer:
Verified
Q165: When a firm exits a competitive price-searcher
Q166: Which of the following most closely approximates
Q167: When a new firm enters a competitive
Q168: A competitive price-searcher firm is currently producing
Q169: Cecilia's Café is in a competitive price-searcher
Q171: Which of the following is not a
Q172: The term price searcher applies to all
Q173: Which of the following is a true
Q174: Even when there are only a few
Q175: If a contestable market has only one
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