An insecure monopoly is one where:
A. a new patent has been granted.
B. the possibility of a second firm entering exists.
C. no other firms can enter.
D. price-fixing is illegal under the Sherman Act.
Answer: B
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Answer the following statement(s) true (T) or false (F)
1. A competitive industry is a viable alternative to a natural monopoly. 2. Patents have ambiguous welfare consequences because they both create monopoly power and promote inventive activity. 3. The competition among firms to acquire the rights to legal barriers to entry helps to reduce the welfare costs of monopoly. 4. Social gain is lowered when a monopoly begins to practice price discrimination. 5. When a simple profit-maximizing monopoly begins to practice second-degree price discrimination, both consumers and the monopoly will benefit.
In 1996, if nominal GDP was about $8.5 thousand billion. The stock of money was
a. about the same as this. b. much less than this. c. much more than this. d. unrelated to this number.
Answer the following statement(s) true (T) or false (F)
1. Pesticide reregistration refers to a reevaluation of a previously licensed pesticide that is already on the market. 2. The primary goal of the Pesticide Environmental Stewardship Program (PESP) is to regulate pesticide use. 3. FIFRA rulings require that no pesticide be sold or distributed unless it has been registered with the EPA. 4. The incremental benefits of pesticide use can be modeled as the change in consumer and producer surplus associated with an increase in the demand for an agricultural crop. 5. The first TSCA inventory was published in the 1970s.
The most common form of zero-coupon bonds found in the United States is:
A. municipal bonds. B. AAA rated corporate bonds. C. 30-year U.S. Treasury bonds. D. U.S. Treasury bills.