What is any factor that makes it difficult for a new firm to enter a market referred to as?
(A) A sustainable cost.
(B) A commodity.
(C) Perfect competition.
(D) A barrier to entry.
Ans: (D) A barrier to entry.
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According to the "law of demand"
A) demand generates a supply sufficient to satisfy the demand. B) nothing will be produced unless there is a demand for it. C) people will purchase less of a good when its price rises. D) wants are indefinitely expansible and can never be fully satisfied. E) whatever people want will eventually be supplied.
Applying neoclassical theory to the housing market, ________ cause a decrease in the user cost of housing
A) higher expected household incomes B) higher rates of household formation C) increases in the expected relative price of housing D) tighter constraints on mortgage financing
What factors determine the size of the price elasticity of demand?
What will be an ideal response?
Which of the following is true of Carter administration?
a. Dramatic expansion of Social Security and Medicare programs b. Large income tax cuts, especially for the wealthy c. Deregulation of airlines, trucking, railroads and the financial services industry d. Government control of gasoline and food prices