Barriers to entry are obstacles, such as patents, that make it difficult for new consumers to enter a market.
Answer the following statement true (T) or false (F)
False
Barriers to entry are obstacles, such as patents, that make it difficult or impossible for would-be producers to enter a particular market.
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If s = MPS, and t = income tax rate, the marginal leakage rate is
A) s(1 - t) + t. B) s -t. C) s(1 - t). D) t(1 - s) + t.
What is one of the most important benefits of the Internet?
A) The Internet has increased asymmetric information. B) The Internet has reduced asymmetric information. C) The Internet has increased moral hazard. D) The Internet has increased transaction costs.
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If the player were to be made indifferent between playing the game or not, how much should the owner charge him?
a. $30 b. $40 c. $50 d. $80
Why does the United States tend to use more capital-intensive methods than many other places?
a. Machinery is relatively expensive in the United States. b. Wages are relatively low in the United States. c. Labor is relatively expensive in the United States. d. Machinery is relatively scarce in the United States.