All of the following are barriers to entry in an industry EXCEPT

A) a patent.
B) governmental restrictions.
C) low marginal tax rates.
D) economies of scale.

Answer: C

Economics

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As the value of U.S. exports ________, the quantity of ________ demanded increases

A) increases; foreign currencies B) increases; dollars C) decreases; dollars D) None of the above is correct because the value of U.S. exports has nothing to do with the quantity of dollars or foreign currency demanded.

Economics

Cartels are typically subject to cheating by their members because

A) if the other firms stick to the agreement, a firm can increase its profits by cutting its price. B) barriers to entry do not exist so new entrants will join. C) the U.S. Justice Department will punish any cartel agreement before the cartel has had a chance to operate. D) product differentiation allows the firms in the cartel to cheat.

Economics