Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?
a. Ownership of a vital resource.
b. Government franchises and licenses.
c. Patents and copyrights.
d. Economies of scale.
a
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The welfare loss associated with the outcome in a colluding oligopoly is:
A. smaller than that of a perfectly competitive outcome. B. smaller than that of a competitive oligopoly. C. the same as that of a perfectly competitive outcome. D. None of these statements is true.
Discuss that factors that help explain the rapid productivity growth in the United States after 1995
Which of the following groups are a part of the board of governors of the Federal Reserve?
a. Federal Open Market Operations b. Commercial Banks Presidents Council c. Federal Advisory Committee d. Both A and C are parts of the board of governors of the Federal Reserve
Charging individual prices that are based on consumers' willingness to pay is
A. government price supports. B. will pricing. C. second tier pricing. D. price discrimination.