| 单词 | contestable market |
| 释义 | contestable market A market which can be entered without sunk costs and left without loss. In such a market potential as well as actual competition is a constraint on what the actual producers can charge. It is difficult to produce examples of fully contestable markets: most activities involve some sunk costs for entrants, and most producers aim to stay in business for some extended time, largely because of the losses involved in exit. |
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