A ___________ makes it more difficult for a competitor to enter a market.
A. lower cost
B. lower price
C. barrier to entry
D. luxury product
Answer: C
You might also like to view...
Total surplus with a tax is equal to
a. consumer surplus plus producer surplus. b. consumer surplus minus producer surplus. c. consumer surplus plus producer surplus minus tax revenue. d. consumer surplus plus producer surplus plus tax revenue.
What is the fundamental basis for trade among nations?
a. shortages or surpluses in nations that do not trade b. misguided economic policies c. absolute advantage d. comparative advantage
Economists are skeptical that discrimination is employer driven because
a. discrimination cannot exist in markets. b. employers are not really interested in maximizing profit. c. employers typically base wages paid on the prevailing market wage. d. holding productivity constant, a profit-maximizing employer will hire the cheapest labor available.
Means-tested government benefits base benefits on
a. a household's wealth and are an incentive to save. b. a household's wealth and are a disincentive to save. c. the current interest rate and are an incentive to save. d. the current interest rate and are a disincentive to save.