Which of the following is NOT a barrier to entry for monopoly?
A. a patent
B. government licensing
C. large economies of scale
D. a large number of existing firms in a market
Answer: D
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According to the above figure, then the supply curve will
A) shift from S1 to S2. B) shift from S2 to S1. C) remain at S1. D) shift either to the left or the right, but it is impossible to say without more information.
Trade within a country typically involves ________, while trade between countries normally involves ________.
A. flexible exchange rates; fixed exchange rates B. nominal currencies; real currencies C. a single currency; different currencies D. real currencies; nominal currencies
Which of the following policies encourages economic growth?
A) increased taxes on income and business profits B) limiting the years people spend in education so that they can start productive work C) reduction of government support of higher education D) creation of tax free savings accounts E) high tariffs and strict import quotas on foreign-made products
Other things equal, it can be concluded that in Figure 6-1, that
A. D1 is the more elastic demand curve than D2, but only below P2. B. D1 is the more elastic demand curve than D2. C. D1 is the less elastic demand curve than D2. D. D1 is the more elastic demand curve than D2, but only above P2.