Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?
A. ownership of a vital resource
B. government franchises and licenses
C. patents and copyrights
D. economies of scale
Answer: A
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A country has domestic investment of $200 billion. Its citizens purchase $600 of foreign assets and foreign citizens purchase $300 of its assets. What is national saving?
a. $400 billion b. $500 billion c. $600 billion d. $800 billion
Show graphically and explain the effects of imposition of a quota by a small country under competitive conditions. The quota rights are given away for free to a fixed set of import distributor firms in the country.
What will be an ideal response?
Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. The unregulated (market) amount of cars is
A. 25. B. 35. C. zero because any production results in an external cost. D. indeterminate from the information given.
Which of the following is related to the additional revenues business owners expect to enjoy as a result of hiring the employee?
A. the signing bonus for Saul Goodman, a new attorney at the Hamlin, Hamlin, and McGill law firm B. the wages for Wendy Peffercorn, a cashier at the Piggly Wiggly C. the salary of Dallas Mavericks' player Dirk Nowitski D. All of the above are correct.