One barrier to entry into a monopoly market is:
A. very large fixed costs relative to variable costs.
B. the existence of large economies of scale.
C. the high cost of required infrastructure for an industry.
D. All of these statements are true.
D. All of these statements are true.
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Examples of transfer payments are
A) wages, profits, and rents. B) Social Security checks and unemployment insurance payments. C) salaries of educators, police, and firefighters. D) federal government spending for national defense.
Long-run average total cost must always be
a. rising b. declining c. greater than or equal to the marginal unit of variable cost d. greater than or equal to the short run average total cost e. less than or equal to short-run average total cost
_____ Act set forth a list of "employers' rights."
A. Both the Taft-Hartley and the National Labor Relations B. Neither the Taft-Hartley nor the National Labor Relations C. The Taft-Hartley, but not the National Labor Relations D. The AFL, but not the Knights of Labor
A good that is nonrival in consumption and excludable is a ______ good.
a. private b. public c. common d. club