What characteristic of a competitive market has made the "long run pretty short" in the market for iPhone apps?
A)few firms in the market
B)identical products
C)ease of entry
D)blocked entry

Question

Quizplus · Accepted Answer

The ease of entry is the characteristic that has made the "long run pretty short" in the market for iPhone apps. This means that new app developers can enter the market easily and compete with existing firms. As a result, the market is constantly evolving and changing, with new apps being developed and old ones becoming outdated. This makes it difficult for any one firm to dominate the market for an extended period of time.

What Characteristic of a Competitive Market Has Made the "Long