Large barriers to entry exist in which of the following market structures?
A. Perfect competition only
B. Perfect competition and monopolistic competition
C. Oligopoly and monopoly
D. Monopoly only
C. Oligopoly and monopoly
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Which of the following is true of the wage gap between the top 10% of earners and the bottom 10% of earners in the U.S. economy?
A) The wage gap has increased over time. B) The wage gap has decreased over time. C) The wage gap has remained the same over time. D) There is hardly any wage gap between the top 10% of earners and the bottom 10% of earners in the U.S. economy.
Prince Henry the Navigator was one of the leading explorers from _____
a. England b. France c. Holland d. Portugal e. Spain
In a two-person economy, Adam and Brandon both produce corn and cars. Adam's marginal cost of producing a car is 50 tons of corn, while Brandon's marginal cost is 70 tons of corn. In this economy, Brandon should produce cars and Adam should produce corn
Indicate whether the statement is true or false
The basic incentive problem associated with internal transfers is that:
A. divisional managers have only public information about opportunity costs. B. divisional managers have private information about opportunity costs. C. senior management make all information about opportunity costs public. D. senior management have private information about opportunity costs.