Which of the following are barriers to entry?
A) economies of scale
B) patents and copyrights
C) control of resources
D) all of the above
D
Economics
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Suppose that at a price of $55, 100 units were sold while at a price of $33, 153 units were sold. Without calculating the price elasticity value, can you determine whether demand is elastic, unit elastic, or inelastic? Explain your answer
What will be an ideal response?
Economics
Given that the own-price elasticity of demand for a brand of shoes is -2, the demand for this brand of shoes is a. unitary elastic b. indeterminate. c. elastic
d. inelastic.
Economics