Market power may result from all of the following except
A. Patents and copyrights.
B. Efficiencies of large-scale production.
C. Control of resources.
D. Low barriers to entry.
Answer: D
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Refer to the figure above. This is an example of a(n) ________
A) zero-sum game B) prisoners' dilemma C) extensive-form game D) payoff matrix
Which of the following was NOT an issue that the United States. had with the Kyoto Protocol?
a. Major U.S. trading partners (such as China and India) are exempt from the provisions—not fair! b. Europe's targets were set ridiculously low. c. We don't really know if pollution causes global warming. d. There are less costly ways to deal with environmental problems.
If bond prices fall,
A) interest rates rise, which in turn, discourage investment. B) interest rates fall, which in turn, discourage investment. C) interest rates rise, which in turn, stimulate investment. D) interest rates fall, which in turn, stimulate investment.
“Competition is the mechanism that brings order out of potential chaos in a price-directed economy.” Explain
Please provide the best answer for the statement.