An example of a barrier to entry is
A) superior technological knowledge. B) high profits.
C) product differentiation. D) increasing marginal costs.
A
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Joe Doakes is running for reelection. Economic theory predicts he has a strong incentive to
A) heavily discount the value of all future costs of his policies. B) try to provide as many benefits to his constituents as possible prior to the next election day. C) do both A and B above. D) do none of the above.
The marginal product of capital (MPK) is given by the ________
A) capital share of income + average output per unit of capital B) capital share of income - average output per unit of capital C) capital share of income ÷ average output per unit of capital D) capital share of income × average output per unit of capital E) none of the above