Monopoly markets cannot be contestable since there is only one firm.

Name: Monopoly markets cannot be contestable since there is only one firm.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

Contestability refers to the ease with which new firms can enter and compete with existing firms in the market. While a monopoly market has only one firm, it is still possible for other firms to potentially enter the market if barriers to entry are not too high. Therefore, a monopoly market can be contestable under certain conditions.

Monopoly Markets Cannot Be Contestable Since There Is Only One