The International Nickel Company of Canada is often cited as an example of monopoly. What was the source of the barrier to entry that gave this firm monopoly power?
A) There were important network externalities in the production of nickel.
B) Economies of scale resulted in the company becoming a natural monopoly.
C) It was a public enterprise; therefore, the Canadian government blocked entry into the market for nickel.
D) control of a key resource
D
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What do the Monetarist and Keynesian economists claim was the main cause of the Great Depression?
(a) A contraction in supply (b) A downturn in demand (c) The falling federal deficit (d) All of the above
Which of the following, if true, would suggest that an expansionary gap exists in an economy?
What will be an ideal response?
Average total costs are minimized when:
A. marginal costs begin to increase. B. marginal costs begin to decrease. C. marginal cost is greater than average total cost. D. marginal cost equals average total cost.
What factors might cause the interest rates to differ? Explain
What will be an ideal response?