In which of the following market structures are entry barriers the highest?
A. Monopolistic competition.
B. Perfect competition.
C. Oligopoly.
D. Monopoly.
Answer: D
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When borrower-spenders raise funds in financial markets, they issue new securities in the
A) primary market. B) secondary market. C) third market. D) fourth market.
Refer to the graph shown. A movement from A to B is most likely to be caused by:
A. an increase in aggregate demand. B. a decrease in aggregate demand. C. an increase in input prices. D. a decrease in input prices.
The short run is a time period during which
A) some of the firm's resources are fixed. B) all of the firm's resources are fixed. C) all of the firm's resources are variable. D) the fixed cost equals zero. E) the firm cannot increase its output.
The principal-agent problem arises because of
a. natural selection b. diminishing marginal returns c. hidden actions d. the winner's curse e. hidden characteristics