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Economics · Oct / Nov 2025 · Paper 12 · Question 16

2281Types of markets

What is likely to be found when there are many small firms in an industry?

  1. AThere are few barriers to entry.
  2. BThere is high expenditure on research and development.
  3. CThere is little competition.
  4. DVery large capital costs are needed to establish a firm.

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Correct answer: A. There are few barriers to entry.

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