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Contestable markets are characterized by "hit and run" competition; if a firm in a contestable market raises its prices so as to begin to earn excess profits, potential rivals will enter the market, hoping to exploit the high price for easy profit. When the original incumbent firm(s) respond by returning prices to levels consistent with normal ...
According to the theory of contestable markets, if few enough firms are in the industry so that one would expect positive economic profits, the prospect of other firms entering the market may cause firms in the industry to set prices as if those other firms were already in the market; thus actual entry by those firms is not necessary for the ...
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A Chinese artificial intelligence company called DeepSeek is grabbing America's attention — and sending a shock wave through Wall Street — due to its new tech, which some experts say rivals ...
"The market is very sensitive to this topic (tariffs)." "In the last two weeks we have seen two conflicting views from the new administration - the hard-liners on tariffs and those who favour a ...
Booze makers are getting an early hangover after the US surgeon general called for the addition of a warning label to alcoholic drinks. On Friday, shares of beer and alcohol giants sank across the ...
Profit can, however, occur in competitive and contestable markets in the short run, as firms jostle for market position. Once risk is accounted for, long-lasting economic profit in a competitive market is thus viewed as the result of constant cost-cutting and performance improvement ahead of industry competitors, allowing costs to be below the ...
Two groups representing the credit reporting and credit union industries have filed a lawsuit challenging a new rule adopted by U.S. President Joe Biden's outgoing administration banning the ...