Question 1
A market is defined as contestable if entry to it
◦ is easy, but exit from it is difficult.
◦ is difficult, but exit from it is easy.
◦ and exit from it are both difficult.
◦ and exit from it are both easy.
Question 2
Entry to and exit from a(n) ________ market are ________.
◦ oligopolistic; easy
◦ perfectly competitive; difficult
◦ contestable; difficult
◦ contestable; easy