Natural barriers to entry arise when, over the relevant range of output, there
A) are diseconomies of scale.
B) are constant returns to scale.
C) are several firms who produce at the lowest average cost.
D) are economies of scale.
E) is one firm that owns a key natural resource.
D
Economics
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In 1992, Britain and Italy __________ the European Monetary System and __________ against the other major European currencies
A) joined; fixed their currency B) joined; let their currency float C) left; fixed their currency D) left; let their currency float
Economics
If an individual wins a multimillion dollar lottery and chooses to receive annual payments equaling the total prize, this person has a
A) relatively low discount rate. B) relatively high discount rate. C) discount rate of zero. D) It is impossible to tell.
Economics