Consider the Following Characteristics of a Particular Industry: - There

Multiple Choice

Consider the following characteristics of a particular industry: - there are natural barriers to entry
- market price exceeds marginal cost of production
- there is no strategic behaviour in the industry
This industry is likely to be

A) an oligopoly.
B) a monopoly.
C) monopolistically competitive.
D) perfectly competitive.
E) one where each firm has limited market power.