Which of the following is not considered a barrier to entry?
a. large economies of scale
b. control of inputs used in production
c. a homogeneous product
d. patents
e. copyrights
C
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Knowledge that is patented is a
a. public good, whereas knowledge that is not patented is a common resource. b. private good, whereas knowledge that is not patented is a club good. c. common resource, whereas knowledge that is not patented is a private good. d. club good, whereas knowledge that is not patented is a public good.
Which of the following statements accurately describes the situation shown?
a. The demand curve for euros shifts from D1 to D2 due to increased demand for euros.
b. The demand curve for dollars shifts from D1 to D2 due to increased demand for dollars.
c. Increased demand for euros shifts the demand curve for euros from D2 to D1.
d. Decreased demand for euros shifts the demand curve for euros from D1 to D2.
What is the percent reduction in import quantity in a country due to the tariffs imposed by the government, if the country's import tariffs are all 10 percent, the total imports affected by the tariffs are 40 percent of the GDP, and the net national loss from the tariffs as a percentage of GDP is 0.6 percent?
A. 30% B. 40% C. 20% D. 10%
The short-run supply curve for the perfectly competitive firm is the portion of its
A) MC curve above the AVC curve. B) MC curve above the AFC curve. C) MC curve above the ATC curve. D) MC curve above the MR curve.