An example of a barrier to entry is
A) product differentiation.
B) high profits.
C) occupational licensing.
D) increasing marginal costs.
Answer: C
Economics
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Consider a market that is initially in equilibrium. If we observe that price increased and quantity decreased, then which of the following could have occurred?
a. demand increased b. supply increased c. supply decreased d. demand decreased e. both demand and supply increased
Economics
Homothetic tastes are always tastes over essential goods.
Answer the following statement true (T) or false (F)
Economics