If it is not possible for a pharmaceutical drug maker to sell its generic cholesterol reducing drug along with some name brand cholesterol reducing drugs, we have an example of
A) monopoly due to ownership of key resources.
B) monopoly due to governmental entry restrictions.
C) monopoly due to economies of scale.
D) pure competition.
B
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How does an increase in the price level affect the position of the C + I + G + X curve and in turn the equilibrium level of real GDP?
A) The C + I + G + X curve shifts down, thereby reducing the equilibrium level of real GDP. B) The C + I + G + X curve shifts down, thereby increasing the equilibrium level of real GDP. C) The C + I + G + X curve shifts up, thereby reducing the equilibrium level of real GDP. D) The C + I + G + X curve shifts up, thereby increasing the equilibrium level of real GDP.
If competition can be relied upon to serve as the regulator of a market, but if the game needs to be kept fair, the proper governmental policy should be
a. nationalization b. economic regulation c. the application of antitrust d. socialization e. government ownership
Suppose that a curve has a slope equal to zero at some point A. To the right of A, the curve may
a. have a positive slope. b. have a negative slope. c. be a straight line. d. All of the above are correct.
In what type of analysis could an increase in the tax rate lead to a decrease in tax revenues?
A) ad valorem taxation B) excise taxation C) dynamic tax analysis D) static tax analysis