Possible barriers to entry of new firms into an industry
a. include patents and controls over raw materials.
b. enable monopolists to enjoy long-run profits.
c. may consist of substantial economies of scale.
d. All of these.
d. All of these.
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Refer to Figure 9.6. As a result of this policy, producer surplus will be
A) $2000. B) $3375. C) $4500. D) $6000. E) $12,000.
Which of the following is correct?
A. In the short run, if a firm chooses to produce no output (i.e. shut down) its total costs of production will equal its total fixed costs. B. If a firm decides to shut down, its short-run total costs will equal 0 C. As a firm increases output in the short run, the change in total costs is equal to the change in total variable costs. D. A firm minimizes its total costs of production when average variable cost is minimized. Reset Selection
Suppose there was a substantial increase in political instability in the rest of the world. What would be the effects on the U.S. current account? Explain
What will be an ideal response?
The per-hour output produced by a worker describes the
A. productivity of workers. B. labor force participation rate. C. capital per worker ratio. D. nominal worker growth standard.