When a firm obtains market power through barriers to entry created not by the firm, but by the government, it is referred to as:
A) legal market power.
B) regulated market power.
C) firm-biased market power.
D) differentiated market power.
A
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With a proportional tax
A) a poor household pays a larger percentage of its income in taxes than a rich one. B) a rich household pays a larger percentage of its income in taxes than a poor one. C) all households pay the same total amount of tax. D) all households pay the same percentage of their income as taxes.
In the early 20th century, segregation of street cars made streetcar companies
a. more profitable and was supported by private streetcar companies. b. more profitable but was opposed by private streetcar companies. c. less profitable but was supported by private streetcar companies. d. less profitable and was opposed by private streetcar companies.