Which of the following is not considered a barrier to entry into a monopoly market?
A. having a natural monopoly.
B. ownership of a key resource.
C. government intervention.
D. an new product-type is offered.
D. an new product-type is offered.
You might also like to view...
Comparing single-price monopoly to perfect competition, monopoly
A) increases the amount of consumer surplus. B) has the same amount of consumer surplus. C) has no consumer surplus. D) decreases the amount of consumer surplus. E) decreases the amount of economic profit.
Within rich economies, there is strong evidence of convergence ________
A) for regions within a country B) with developing economies C) leading to military conflict D) of capital stocks, rather than output
All of the following utility functions rank bundles (q1,q2 ) in the same order except for which one?
A) q11/2 + q21/2 B) q11/2 q21/2 C) ln(q1 ) + ln(q2 ) D) All of the above rank bundles (q1,q2 ) in the same order
What is the last dollar rule for cost-minimization? Provide a brief explanation (in words) as well as the corresponding mathematical equality
If the firm is producing at a point where the isocost line is steeper than the isoquant, what does the last dollar rule imply (i.e., where is the last dollar most productive, L or K) and how should the firm alter its capital and labor in the long run?