The Aluminum Company of America (Alcoa) had a monopoly until the 1940s because
A) it had control of almost all the available supply of bauxite.
B) it had a patent on the manufacture of aluminum.
C) it was a public enterprise.
D) the company had a secret technique for making aluminum from bauxite.
A
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Discuss the federal budget history of the United States since 1970. Make sure to note specifically the budget position of the United States during the last of the 1990s and compare it to the situation in 2012
What will be an ideal response?
To an economist, rational self-interest means that individuals try to weigh the expected marginal (additional) benefits and marginal (additional) costs of their decisions
a. True b. False Indicate whether the statement is true or false
Other things the same, the aggregate quantity of output supplied will increase if the price level
a. is lower than expected so that firms believe the relative price of their output has increased. b. is lower than expected so that firms believe the relative price of their output has decreased. c. is higher than expected so that firms believe the relative price of their output has increased. d. is higher than expected so that firms believe the relative price of their output has decreased.
In a monopolistically competitive market, entry into the industry
A) is relatively easy. B) is blocked. C) is difficult due to extensive government regulation. D) is as difficult as entry into a monopoly.