What will increase the likelihood that the firms in an industry will conclude to maximize...
ECONOMICS
JAMB 2015
What will increase the likelihood that the firms in an industry will conclude to maximize their joint profit?
- A. The industry has many differentiated products
- B. The industry is characterized by rapid technological change
- C. The industry consist of large number of producers
- D. There are significant barriers to prevent firms entering the market
Correct Answer: D. There are significant barriers to prevent firms entering the market
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