According to the textbook, the most important and enduring source of market power is:
A. government franchises.
B. economies of scale.
C. copyrights.
D. patents.
Answer: B
You might also like to view...
Refer to Common Property II. If the common property is privately owned, the amount of the good supplied equals
The following questions refer to the accompanying diagram, which shows the benefits and costs associated with the use of a common property.
a. QO
b. QC
c. zero.
d. none of the above.
The wealthy nations of the world have
a. the largest populations. b. more supplies of natural resources. c. more supplies of capital. d. larger labor forces.
In comparison to perfect competition, monopolistic competition is characterized by
a. efficient scale. b. pricing at marginal cost. c. excess capacity. d. All of the above are correct.
A government subsidy to the producers of a product:
A. reduces product supply. B. increases product supply. C. reduces product demand. D. increases product demand.