Contestability
- Created by: Tom
- Created on: 08-01-14 10:47
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- Contestability
- Definition
- The extent to which barriers to entry and exit are free and costless
- Potential 'Hit-and-run' entry
- No sunk costs, although theoretically impossible
- There is a pool of potential entrants in the market
- entry and exit are costless
- all firms are subject to the same regulations
- Definition
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