If a producer wants a monopoly with a legal barrier to entry, how can this be done?
i. The producer can spend funds lobbying to attain passage of the legal barrier to entry.
ii. The producer can purchase an existing monopoly.
iii. The producer can make rent seeking expenditures.
A) i and ii
B) i and iii
C) ii and iii
D) i, ii, and iii
E) None of the above are ways to acquire a monopoly with a legal barrier to entry.
D
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GDP calculations tend to exclude all of the following EXCEPT
A) environmental quality. B) salaries paid to government employees. C) illegal transactions. D) work that people do for themselves in their own homes.
Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family. She is currently looking for work, so she would be considered
A) cyclically unemployed. B) avoidably unemployed. C) frictionally unemployed. D) a discouraged worker. E) not in the labor force because she moved more than 150 miles.