Homework Clinic
Social Science Clinic => Economics => Microeconomics => Topic started by: aeb093 on Oct 12, 2022
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Consider the following characteristics of a particular industry:
- there are natural barriers to entry
- market price exceeds marginal cost of production
- there is no strategic behaviour in the industry
This industry is likely to be
◦ one where each firm has limited market power.
◦ a monopoly.
◦ an oligopoly.
◦ monopolistically competitive.
◦ perfectly competitive.
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a monopoly.
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Thank you