Patents are a barrier to entry.
Answer the following statement true (T) or false (F)
True
Barriers to entry include patents, economies of scale, ownership of key resources, and government regulation.
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The negative effect of having more potential volunteers resulting in a reduced likelihood of a beneficial outcome is known as the
A) diffusion effect. B) externalizing effect. C) group dynamic effect. D) size effect.
According to your text, when a shortage exists,
A) buyers compete with buyers. B) buyers compete with sellers. C) sellers compete with sellers. D) the price of the good would tend to fall in order to eliminate the shortage.
What is the discount rate?
What will be an ideal response?
For the practice of price discrimination to be successful, the monopoly must
a. face an imperfect resale market for its product. b. face similar demand curves for various markets. c. have similar costs among markets. d. have a downward sloping marginal cost curve.