To persist, a monopoly must:
a. be regulated.
b. set its price to eliminate the deadweight loss.
c. be a natural monopoly.
d. be protected by a barrier against the entry of other firms.
Ans: d. be protected by a barrier against the entry of other firms.
You might also like to view...
The price of one currency in terms of another is called an exchange rate
Indicate whether the statement is true or false
Based on the table showing poverty for different groups, which group’s poverty rate is closest to the rate for all persons?
a. male households with no wife
b. female households with no husband
c. children under 18
d. married couple families
Which of the following increases the speed at which a cartel's power erodes?
A. The share of the cartel in the world market increases. B. The price elasticity of competing supplies decreases. C. The cartel agreement is more stringent in imposing penalties on the members who cheat. D. The product's price elasticity of demand increases.
Economics is most precisely defined as
A) a study of what people need to survive. B) a study of how culture evolves in different geographic areas. C) the same as the study of finance and management. D) the study of how people make choices.