A barrier to entry is
A) the economic term for diseconomies of scale.
B) illegal in most markets.
C) anything that protects a firm from the arrival of new competitors.
D) a factor that increases competition because firms must continue to operate in the market in which they were founded.
E) the same as rent seeking.
C
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An important observation about the NAAQS is that
a. they are set at the regional level to recognize different demographics and traffic patterns b. all regions must meet the same standard, making efficiency achievement highly unlikely c. they are uniform across all regions including PSD areas d. they have been amended to include GHG air pollutants
A multinational organization that aims to promote world economic growth through more financial stability is
A) the World Monetary Fund. B) the International Bank. C) the International Monetary Fund. D) the International Monetary Bank.
When a country has the ability to produce a good or service at a lower opportunity cost than others, they:
A. have an absolute advantage. B. have a comparative advantage. C. are free-traders. D. should remain self-sufficient.
Economists usually have to make do with whatever data the world happens to give them
a. True b. False Indicate whether the statement is true or false