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  • 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


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