Which of the following would not bar entry into a market?
a. control by a single firm of an essential resource
b. the necessity of taking risks when starting a firm
c. patents
d. economies of scale
e. government regulations limiting the number of firms in an industry
B
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Which figure above shows the effect of an increase in the cost of the tomato sauce used to produce pizza?
A) Figure A B) Figure B C) Figure C D) Figure D E) Both Figure B and Figure C
Suppose you observe that output in an industry occurs on the inelastic part of the market demand curve. Which of the following can you conclude from this?
A. The industry is definitely behaving as a monopoly that is protected by barriers to entry. B. The industry is definitely not behaving as a monopoly that is protected by barriers to entry. C. The industry could be perfectly competitive. D. The industry is definitely not perfectly competitive. E. Both (a) and (d) F. Both (b) and (c) G. Both (b) and (d) H. None of the above
Product variety and information for consumers are gains from
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
What does the investment demand curve show?
What will be an ideal response?