Which of the following could be a barrier to entry?
a. diseconomies of scale
b. a large number of buyers and sellers
c. a standardized product
d. economies of scale
e. diseconomies of scope
D
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In the aggregate expenditures model, we note that an increase in government purchases G and an increase in lump-sum taxes T of the same amount will have
A. essentially the same effect on equilibrium real GDP, both in magnitude and in direction. B. different effects on real GDP, with the change in G having a larger impact than the change in T. C. the same magnitudes of impact on equilibrium real GDP, though in opposite directions. D. different effects on real GDP, with the change in T having a larger impact than the change in G.
If an Industry consists of two large firms, it is known as a(n)
a. monopoly b. perfect competition c. monopolistic competition d. natural monopoly e. duopoly
If the United States imposed higher tariffs and more restrictive quotas that reduced imports,
What will be an ideal response?
The output effect is the change in labor supply due to a change in the quantity of output produced.
Answer the following statement true (T) or false (F)