Contestable markets arise when firms currently in an industry know that it would be easy for potential competitors to enter the industry.

Name: Contestable markets arise when firms currently in an industry know that it would be easy for potential competitors to enter the industry.
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Question

Quizplus · Accepted Answer

Contestable markets are characterized by the absence of barriers to entry and exit, allowing potential competitors to easily enter and challenge existing firms.

Contestable Markets Arise When Firms Currently in an Industry Know