Large barriers to entry exist in which of the following market structures?
A. Perfect competition only
B. Monopoly only
C. Perfect competition and monopolistic competition
D. Oligopoly and monopoly
Answer: D
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When businesses cooperate and agree to hold prices high, it is called ________, and when they reach a noncooperative equilibrium it is called ________.
A. commitment strategy; collusion B. collusion; commitment strategy C. collusion; competition D. competition; collusion
About one worker in _____ is covered by a Cost of Living Adjustment Agreement (COLA).
A. two B. four C. seven D. ten
The aggregate demand curve shifts to the right if
a) the government decreased welfare programs b) the Fed decreased the reserve requirement c) the government raised taxes d) the demand for money increased e) none of the above shifts the aggregate demand curve to the right
The US state and local governments gains revenue from:
a. property taxes. b. revenue from money creation. c. customs. d. all of the above.