All else constant, as the barriers to entry into a particular market increase, so will the ability of firms in that market to earn above-average profits
Indicate whether the statement is true or false
TRUE
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Mergers between companies that previously existed in a supplier-buyer relationship are called
A) conglomerate mergers. B) diagonal mergers. C) horizontal mergers. D) vertical mergers.
Indonesia experienced hyperinflation in the 1990s
a. True b. False Indicate whether the statement is true or false
The primary source of revenue for the Federal Reserve is
a. the interest earned on the bonds held by the Fed. b. its annual appropriation from Congress. c. the interest earned on discount loans to banks. d. the dividends earned on the stocks held by the Fed.
Profit is
A. Possible only with technical efficiency. B. The difference between total cost and variable cost. C. Earned at all points along the production function. D. The difference between total revenue and total cost.