When the government eliminates artificial barriers to entry:
A. firm profits will rise.
B. prices to consumers will likely decrease.
C. competition in the market will decrease.
D. All of these will occur.
Answer: B
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You pay $15 for an all-you-can-eat buffet. The food isn't so good, but definitely edible. When you finish eating, what is the marginal value of the last bite of food you consumed?
A) zero B) $15 C) positive D) negative
If a person saves $1,000 . how much will she have at the end of three years if the market interest rate is 6 percent?
a. $1,060 b. $1,135 c. $1,156 d. $1,191 e. $1,600
If a monopolist can sell 2 units at price of $200 per unit and 3 units at a price of $180 per unit, its marginal revenue at an output of 3 is
A) $-20.00. B) $80.00. C) $140.00. D) $180.00.
During the Great Depression, the rate of unemployment in the United States reached a high of
a. 10 percent. b. 15 percent. c. 20 percent. d. 25 percent.