Examples of barriers to entry include
A. Economic profits.
B. Standardized products.
C. Price taking.
D. Patents.
Answer: D
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The table above gives the domestic demand and supply schedules for a good. Suppose the world price of the good is $40 and the government imposes a $20 per unit tariff. How much will the government collect as tariff revenue?
A) $160 B) $360 C) $320 D) $240 E) $80
If economies of scale are present, a firm can enhance its profits by
a. operating at any larger scale. b. operating at any larger scale up to the optimal scale. c. operating beyond the optimal scale. d. operating at a lower scale.
What impact does a higher price level have on interest rates, wealth, and investment spending?
What will be an ideal response?
Endogenous variables tend to be less volatile than exogenous ones
Indicate whether the statement is true or false