Contestable Market Flashcards
1
Q
What characterises a contestable market?
A
a market with low barriers to entry and exit
easy for new firms to enter
doesn’t matter how many firms in market
only make normal profit in long run
1. Micro Eco > Contestable Market > Flashcards
What characterises a contestable market?
a market with low barriers to entry and exit
easy for new firms to enter
doesn’t matter how many firms in market
only make normal profit in long run