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Contestable market
A market that, even though it has only a single or a small number of sellers, could readily admit more, so that the pricing behaviour of current sellers is constrained by the potential for entry. Term introduced by Baumol et al. (1982)
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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