Which of these contributes to the existence of monopoly power?
a. the control of critical resources
b. legal barriers
c. patents
d. All of the above contribute to the existence of monopoly power.
d
You might also like to view...
The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The total cost of producing 80 units equals
A) less than $5. B) more than $5 and less than $110. C) more than $110 and less than $120. D) more than $120 and less than $150. E) more than $150.
AA Appliances sells refrigerators. In 2015 it added $100,000 to its inventory. $10,000 of this addition was from used refrigerators, and the remaining $90,000 was from their purchases of newly manufactured refrigerators. How much of AA's inventory is included in 2015 GDP?
a. $0 b. $10,000 c. $90,000 d. $100,000
Why are all costs really "opportunity costs"? What is an opportunity cost of attending class?
What will be an ideal response?
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.