In which of the following market structures do you find barriers to entry?
A. a monopoly
B. a perfectly competitive market
C. a monopolistic competition
D. Both a monopoly and a perfectly competitive market are correct
Answer: A
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Based on the figure above, as a result of international trade, U.S. domestic production ________ airplanes per year
A) decreases by 200 B) increases by 300 C) decreases by 100 D) increases by 500 E) increases by 200
Compare the effects of an increase in aggregate demand when the price level is fixed versus when it can change
What will be an ideal response?
To internalize a positive externality:
a. the consumers of a good could receive a subsidy equal to the external benefit resulting from the production or consumption of the good. b. a producer's costs could be increased by an amount equal to the external benefit resulting from the production of the good. c. consumers of the good could pay a tax equal to the external benefit resulting from the production or consumption of the good. d. None of the above are correct.
A public good is
a. always depletable and excludable. b. always depletable and often excludable. c. never depletable and always excludable. d. never depletable and always nonexcludable.