A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
A. natural monopoly
B. monopoly
C. oligopoly
D. monopolistic competition
Answer:A
A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run average cost curve.
A. natural monopoly B. monopoly C. oligopoly D. monopolistic competition
Explanation: 10. The use of sharp, temporary price cuts as a form of _________________ would enable traditional US automakers to discourage new competition from smaller electric car manufacturers.