1. Of the following markets, which is most likely to have contestable markets
B. Trucking
C. Dentistry
A. Nuclear power generation
D. Automobile manufacturing
Answer : The answer is option B : Trucking.
Contestable market is that market where the entry barrier is low and high competition exist between firms in the market. In case on trucking industry market low entry barrier exist and also exists competition. So, trucking industry market is a contestable market. Therefore, option B is correct.
1. Of the following markets, which is most likely to have contestable markets B. Trucking C....
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In which way are contestable markets different from markets that are perfectly competitive? A. There is imperfect information—some firms have access to information while others do not. B. Firms have a positive economic profit in the long run. C. Firms charge a price that does not equal marginal cost. D. There are a few firms in the industry. E. This question makes no sense because there are no differences between contestable markets and markets that are perfectly competitive.
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