A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of
A) a perfectly inelastic demand curve. B) economies of scale.
C) control of a key raw material. D) network externalities.
B
Economics
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Which of the followings is NOT true about the word "autonomous" that economists use?
A) Changes in autonomous components are associated with movements along a curve. B) Changes in autonomous components are associated with shifts of a curve. C) The autonomous component of a variable is exogenous. D) The autonomous component of a variable is independent of other variables in the model.
Economics
Commercial banks are financial intermediaries, as are ________
A) household savers B) state and local governments C) insurance companies D) organized exchanges
Economics