An example of a barrier to entry is
a. patent law
b. government regulations
c. cost of advertising
d. economies of scale
e. all of the above
E
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A fall in the price of a good causes an increase in its:
A. quantity demanded. B. demand. C. quantity supplied. D. supply.
When there is a decrease in the price of a good,
A. the elasticity of demand will determine the degree to which quantity demanded falls. B. the elasticity of demand will determine the degree to which quantity demanded rises. C. the demand curve will shift to the right. D. the demand curve will shift to the left.
What is purchasing power parity?
What will be an ideal response?
C = $40 million + 0.6(1 - 0.2)Y I = $35 million G = $31 million NX = -$6 million Based on the above data, the equilibrium level of GDP is
A) $113.6 million. B) $192.3 million. C) $208.3 million. D) $833.3 million.