A perfectly competitive market is by definition perfectly contestable, but a perfectly contestable market is not necessarily

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‘A perfectly competitive market is by definition perfectly contestable, but a perfectly contestable market is not necessarily a perfectly competitive market.’ Comment on this statement.

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 25, 2024 01:01 AM

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A perfectly competitive market is by definition perfectly contestable, but a perfectly contestable market is not necessarily

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While it is true that a perfectly competitive market is also perfectly co...View the full answer

Economics

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