Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?

A. ownership of a vital resource
B. government franchises and licenses
C. patents and copyrights
D. economies of scale


Answer: A

Economics

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Referring to the previous question, all else constant, a 5 unit increase in the wage index would cause:

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Economics

If future total factor productivity increases

A) labor demand increases. B) government expenses increase. C) consumption demand decreases. D) investment demand increases.

Economics

Which firm is not dealing with adverse selection

a. a manufacturer forgoes a usual 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 9000 certified d. Smokers get the worse life insurance rates as non-smokers

Economics