In order for a firm to receive monopoly profits, there must be
A) homogeneous products.
B) barriers to market entry.
C) mutual interdependence among firms.
D) free entry and exit to the market.
Answer: B
Economics
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Which of the following is not a possible source of instability in velocity in the Monetarist model?
a. financial innovation. b. changes in monetary policy c. changes in interest rates d. credit cards.
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In theory, the long-run supply curve for perfectly competitive market firms who are identical is:
A. perfectly elastic. B. perfectly inelastic. C. upward sloping. D. downward sloping.
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