All of the following are considered a barrier to entry into a market EXCEPT
A) government licenses.
B) persistent declining long-run average costs as output increases.
C) lowering tariffs.
D) governmental regulations of business conduct relating to workplace conditions.
Answer: C
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Consider the same market for nonalcoholic beer as in the previous question. How many "units" of beer will Cudweiser produce?
a. 667 b. 1,667 c. 2,333 d. 3,000
Difference in wages can be explained by differences in
a. job characteristics and worker characteristics. b. job characteristics but not worker characteristics. c. worker characteristics but not job characteristics. d. neither worker characteristics or job characteristics.
What is the criticism leveled against deposit insurance by the FDIC?
What will be an ideal response?
As long as neither supply nor demand is perfectly elastic, both suppliers and demanders will pay part of any tax.
a. true b. false