Which of the following is NOT true about a certificate of convenience and public necessity?
A) It is a barrier to entry.
B) It is a patent.
C) It is issued by a government agency.
D) It limits competition.
B
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Opportunity costs exist for
A. households but not businesses or governments. B. businesses but not households or governments. C. businesses and households but not governments. D. households, businesses, and governments.
What is marginal benefit? How is it measured?
What will be an ideal response?
Salary smoothing, automatic payroll deductions, and early withdrawal penalties are all examples of:
A. mechanisms imposed by companies to extract more from their workers and customers. B. policies that do not fundamentally alter decisions because they do not change the benefits or costs of an action. C. precommitments. D. hardwired heuristics.
In the above figure, the production of 75 ukuleles and 75 guitars is
A. full employment production. B. impossible production. C. inefficient production. D. efficient production.