If it is NOT possible for a pharmaceutical drug maker to sell its generic cholesterol reducing drug along with some name brand cholesterol reducing drugs, we have an example of monopoly due to
A) ownership of key resources.
B) governmental entry restrictions.
C) economies of scale.
D) pure competition.
Answer: B
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The market for U.S. cars was impacted significantly by consumers' options to buy which of the following?
(a) Used cars (b) New cars produced by U.S. producers (c) New cars produced by foreign producers (d) All of the above
In perfect competition, a firm’s marginal revenue is the same as the demand curve at high levels of output.
Answer the following statement true (T) or false (F)
Property rights allowing individuals to own goods, services, and factors of production are most important in:
a. socialistic economies. b. planned economies. c. capitalistic economies. d. command economies.
Answer the following statement(s) true (T) or false (F)
1. Protectionists support the use of trade barriers, such as tariffs and quotas. 2. Since the NAFTA was reached in 1992, trade among Canada, Mexico, and the United States has risen, but exports to the United States have declined. 3. Both environmentalists and free trade advocates supported the General Agreement on Tariffs and Trade (GATT). 4. Available data indicate that the reduction of trade barriers associated with the World Trade Organization (WTO) has led to improved trade flows.