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1.5 Perfect competition, imperfectly competitive markets and monopoly

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Question 19

The table below details the economic profit and entry barriers of four different firms in an economy.

FirmLong-run Economic ProfitBarriers to Entry
APositiveHigh
BPositiveLow
CZeroHigh
DZeroLow

Which one of the firms, A, B, C or D, is most likely to operate in a perfectly competitive market?

Firm A

Firm B

Firm C

Firm D

1.5 Perfect competition, imperfectly competitive markets and monopoly Questions

  1. A Level
  2. /Economics
  3. /1.5 Perfect competition, imperfectly competitive markets and monopoly