A single firm in a contestable market is limited in the amount of economic profit it can earn because there
A) are barriers to entry.
B) are no barriers to entry.
C) is collusion.
D) are government regulations limiting its profit.
B
Economics
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An oligopoly market structure is characterized by firms closely watching their rivals' pricing policies
a. True b. False Indicate whether the statement is true or false
Economics
Suppose Ecuador imposes a tariff on imported bananas. If the increase in producer surplus is $50 million, the reduction in consumer surplus is $150 million, and the deadweight loss of the tariff is $30 million, then the tariff generates $130 million in revenue for the government
a. True b. False Indicate whether the statement is true or false
Economics