According to the theory of contestable markets, monopoly may not be a problem if

The demand will be _________ if the consumer has _________ substitute goods to choose from.

Which of the following prohibits exclusive dealing?

The decision by firms to enter a market shifts the market supply curve to the right.

Sociopsychiatric explanations of consumer behavior fail to explain which of the following questions?

Assuming an entrepreneur does not pay herself, the $1,000 she could earn as an employee elsewhere is considered

In which of the following cases will a firm enter a perfectly competitive market?

Perfect competition is a market structure in which no buyer or seller has market power.

If the price elasticity of demand is equal to 2, then the good has _________ demand.

Demand is more price elastic