The United States Mint is the only legal entity to produce circulating coinage for the United States. What are the barriers to entry, if any, that protect this firm from competition?
A) The United States Mint is a natural monopoly.
B) The United States Mint has a government license to produce coinage.
C) The United States Mint is a public franchise to produce coinage.
D) The United States Mint has a patent or copyright to produce coinage.
C
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The new classical school of thought is usually associated with the theory of rational expectations
a. True b. False Indicate whether the statement is true or false
Creative destruction by innovation means
A. destruction of an innovative product once it fails in the market. B. introduction of an innovative product makes older substitute goods obsolete. C. substitute goods make innovative goods less competitive in the market. D. introduction of innovative goods increase the competition in the market
The difference between a firm's total revenues and total costs when all explicit and implicit costs are included is the firm's
a. economic profit. b. accounting profit. c. opportunity cost of capital. d. long-run average total cost.
Since the 1970s, the incidence of obesity has risen from 15% of the U.S. population to
a. 20%. b. 25%. c. 30%. d. 35%. e. 50%. 12.Part of the cause of obesity is that food is cheaper; when something is cheaper a. The demand curve slopes upward. b. The demand curve slopes downward. c. Consumers demand more d. Consumers demand less e. Both b and c are correct.