Which of the following is a common barrier to entry in a monopoly market?
A. Antitrust laws.
B. Economies of scale.
C. Economic profit of the monopolist.
D. A rising long-run average total cost curve.
Answer: B
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Which of the following is the best example of a good that has inelastic demand?
a -diamond b -movie ticket c -boat d -salt
The average product of capital of producing 2,991 units of output (find point B) in the table below is:Production Function for Good XL*KQMPK=(?Q/?K)APK=(Q/K)LaborCapitalOutputMarginal Product of CapitalAverage Product of Capital900----910575.75.7092032426.716.2093065733.3B9401,07241.526.809501,52445.230.489601,97645.232.939702,39141.534.169802,72433.334.059902,991A33.2391003,0485.730.4891103,016-3.227.4291202,945-7.124.54
A. 73. B. 21.9. C. 37. D. 11.1.
Insurance companies perform all of the following functions performed by financial intermediaries except:
A. pooling the resources of small savers. B. transferring risk. C. supplying liquidity. D. making large investments.
Refer to the information provided in Figure 6.11 below to answer the question that follows.
Figure 6.11Refer to Figure 6.11. Gordon's opportunity cost of one hour of leisure is
A. $10. B. $24. C. $240. D. indeterminate from this information.