Consider the Following Characteristics of a Particular Industry: - Each

Multiple Choice

Consider the following characteristics of a particular industry: - each firm faces a demand curve with price elasticity greater than 10 000
- each firm produces at a minimum efficient scale in long-run equilibrium
This industry is likely to be

A) an oligopoly.
B) highly concentrated.
C) monopolistically competitive.
D) perfectly competitive.
E) a cartel.