Which type of barrier to entry allows an electric company to maintain a monopoly over the production of electricity?
A. a patent
B. ownership of a scarce factor of production
C. diseconomies of scale
D. economies of scale
Answer: D
You might also like to view...
What is the biggest problem of using government actions such as taxes and pollution charges to control external costs?
A) insufficient legal power to enforce the controls B) obtaining enough data to determine how much the tax or pollution charge will be C) In some situations, there is no known way to control the external costs. D) political lobbying and voter disagreement E) The Coase theorem points out that taxes and pollution charges work only in the short run and not in the long run.
Unemployment in the United States varies considerably over time
a. True b. False Indicate whether the statement is true or false
If the price of roses increases the
A. demand curve for carnations will shift to the right. B. demand curve for roses will shift to the left. C. demand curve for carnations will shift to the left. D. demand curve for roses will shift to the right.
The potential conflict of economic policy with political objectives can be used to explain
A. The ups and downs in overall business activity. B. The election of the Federal Reserve's Board of Governors. C. Illegal behavior on the part of politicians and economists. D. Why politicians stimulate the economy before an election and restrict it afterward.