All of the following, except one, can be a barrier to entry into an oligopoly market. Which is the exception?
a. heavy advertising by existing firms
b. zoning regulations
c. excess production capacity among existing firms
d. tariffs and quotas
e. a small minimum efficient scale
E
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After the American Revolution concluded, what did the English do?
(a) They withdrew all investments in colonial America. (b) They continued investing in colonial America. (c) They discouraged individuals in other countries from investing in colonial America. (d) They did none of the above.
Refer to Figure 2-9. If the economy moves from point A to point D, the opportunity cost is
a. 10 toasters. b. 20 toasters. c. 30 toasters. d. 30 toothbrushes.
Skill-biased technological change increases wage inequality by altering the ________ high-skilled workers relative to low-skilled workers.
A. supply of B. demand for C. mobility of D. reservation price of
As of 2010, per capita GDP in the United States was approximately how many times the world average?
A. 5. B. 7. C. 3. D. 9.