If a "certificate of convenience and public necessity" protects a monopolist's position, the barrier to entry this firm relies on is called
A) a tariff.
B) a government license.
C) a patent.
D) economies of scale.
B
You might also like to view...
Both firm A and firm B emit 300 tons of pollution. Suppose both firm A and firm B have permits that allow each to emit 100 tons of pollution
If it costs $5,000 for firm A to eliminate 100 tons of pollution and it costs firm B $6,000 to eliminate 100 tons of pollution, then A) firm B will sell its permits to firm A for a price above $6,000. B) firm A will sell its permits to firm B for a price below $6,000. C) firm A will sell its permits to firm B for a price above $6,000. D) firm B will sell its permits to firm A for a price below $6,000.
The supply curve for umbrellas
A) shows the supply of umbrellas consumers are willing and able to buy at any given price. B) is downward sloping. C) shows the relationship between the price of umbrellas and the quantity of umbrellas supplied. D) shows the relationship between the quantity of umbrellas firms are willing and able to supply and the quantity of umbrellas consumers are willing and able to purchase.
In the ultimatum game, allocators usually offer recipients at least a 40 percent share of the money, and recipients almost always reject offers of less than a 10 percent share
Which of the following does not explain why allocators offer recipients a relatively generous share and why recipients reject meager offers? A) Some people are careful not to engage in economic behavior that might offend and alienate others. B) People can and often do reject offers that offend their sense of fairness even if doing so means taking a monetary loss. C) Allocators can count on recipients to ignore all considerations except financial benefit. D) Fear of arousing outrage and abhorrence could influence economic decisions.
An decrease in demand is represented by a
A) shift of the demand curve to the left. B) shift of the demand curve to the right. C) movement down the demand curve. D) movement up the demand curve.