In a competitive industry
a. the industry has high barriers to entry
b. the industry has high barriers to exit
c. the industry has high barriers to entry and exit
d. the industry has no barriers to entry or exit
d
You might also like to view...
The accounting framework used in measuring current economic activity is called
A) the U.S. expenditure accounts. B) the national income accounts. C) the flow of funds accounts. D) the balance of payments accounts.
The optimal level of air quality
a. is 100 percent, which creates a pollution-free environment b. is smaller the lower the marginal social cost of air quality c. is greater the lower the marginal social benefit of air quality d. is greater the lower the marginal social cost of air quality e. is smaller the greater the marginal social benefit of air quality
If the price of milk shakes was $2.50 each, your total utility would be ______ and your marginal utility would be _______.
Demand and Utility Table for Milk Shakes
A. $13.00 and $4.00
B. $15.00 and $4.00
C. $13.00 and $2.50
D. $15.00 and $2.50
What is meant by economies of scale and what is the importance of this concept to economic growth?
Please provide the best answer for the statement.