... to ... is a characteristic of a market that prevents new firms from readily joining the market
Barrier Entry
1 of 5
... is a pricing policy whereby firms set their price by adding a mark- up to average cost
Cost Plus Pricing
2 of 5
... is an anti-competitive strategy in which a firms sets price below average variable cost in an attempt to force a rival or rivals out of the market and achieve market dominance
Predatory pricing
3 of 5
... is the highest price that an existing firm can set without enabling new firms to enter the market and make a profit
Limit Price
4 of 5
A ... is a market in which the existing firm makes only normal profit, as it cannot set a higher price without attracting entry, owing to the absence of barriers to entry and sunk costs
Contestable Market
5 of 5
Other cards in this set
Card 2
Front
... is a pricing policy whereby firms set their price by adding a mark- up to average cost
Back
Cost Plus Pricing
Card 3
Front
... is an anti-competitive strategy in which a firms sets price below average variable cost in an attempt to force a rival or rivals out of the market and achieve market dominance
Back
Card 4
Front
... is the highest price that an existing firm can set without enabling new firms to enter the market and make a profit
Back
Card 5
Front
A ... is a market in which the existing firm makes only normal profit, as it cannot set a higher price without attracting entry, owing to the absence of barriers to entry and sunk costs
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