The policy in which industrial production is oriented towards foreign consumers is called

Given a supply curve that is positively sloped and a demand curve for a normal good that is negatively sloped, an increase in income will most likely result in:

A) an increase in price and quantity. B) a decrease in price and an increase in quantity. C) a decrease in both price and quantity. D) an increase in price and a decrease in quantity.

Which of the following is not a technical barrier to entry in a monopolized market?

a. A patent b. Decreasing average cost c. A low cost method of production known only by monopolists d. Increasing returns to scale