If an idea has not been implemented because a monopoly producer has placed a barrier to entry, the circumstances are not normal due to:
A. innovation.
B. market failure.
C. intervention.
D. goals other than profit.
B. market failure.
You might also like to view...
The voting members of the Federal Open Market Committee are
A) all of the members of the Board of Governors and five of the presidents of the 12 Federal Reserve banks. B) only the members of the Board of Governors. C) the presidents of the 12 Federal Reserve banks and three members of the Board of Governors. D) all of the members of the Board of Governors and all of the presidents of the 12 Federal Reserve banks.
In the above figure, a price of $15 per dozen for roses would result in
A) equilibrium. B) a shortage. C) a surplus. D) downward pressure on prices.
All along the beach in San Diego, California are shops which rent boogie boards by the hour
Tourists perceive that all rental boogie boards are identical, all prices are clearly listed on signs in front of the shops, and there are no restrictions on entry and exit in the boogie board market. What type of market is the boogie board market? A) monopoly B) oligopoly C) monopolistic competition D) perfect competition
An increase in the equilibrium price of Japanese yen per dollar could be caused by a(n):
a. increase in the general level of prices in Japan. b. increase in the U.S. demand for domestically-built automobiles. c. decrease in the U.S. income relative to the income in Japan. d. increase in the supply of dollars on the foreign market.