A competitive firm's total revenue minus its total opportunity cost equals its ________

The management of a rental building faces a rent control situation, where it cannot charge more than $400 a month in rent on the apartment. The management knows that the apartments are high in demand and renters would be willing to be $1000 per month for them. The management decides to offer the controlled rent, rents furniture to its tenants, but successfully bars delivery from competing

furniture stores. This is an example of a. Tying b. Bundling c. Exclusion d. Fraud

Economists generally criticize high barriers to market entry because

a. the ability of consumers to discipline producers is weakened. b. unregulated monopolists and oligopolists can often gain by increasing output and raising price. c. legal barriers to entry will encourage firms to "invest" resources in developing highly desired products that consumers are willing to pay more for. d. entry barriers are popular with consumers but not businesses.