An example of a barrier to entry is
A) superior technological knowledge. B) high profits.
C) product differentiation. D) increasing marginal costs.
A
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Refer to the figure above. What does the region EFG represent?
A) Consumer surplus B) Producer surplus C) Deadweight loss D) Economic profit
In the short run, the aggregate supply curve reacts to:
A. price changes. B. wage warfare. C. cartels. D. price ceilings.
Being the low price seller in the market is
A) the best place to be. B) not necessarily the best place to be. C) expected of large firms as they are subject to economies of scale. D) not as preferred as being the high price seller in the market.
The U.S. dollar exchange rate, e, where e is the nominal exchange rate expressed as Japanese yen per U.S. dollar, will appreciate when:
A. U.S. consumers increase their preference for Japanese cars. B. the U.S. Federal Reserve eases monetary policy. C. the Bank of Japan eases monetary policy. D. the Bank of Japan tightens monetary policy.