Name some of the barriers to entry that can be created by a competitive firm to protect profits?
The following are some ways in which firms can delay the entry of competitors and extend profits over time:
a) Growing size and investment in specific assets.
b) Creating brand names and trademarks
c) Building healthy public relations
d) Influencing the government
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Refer to Table 4-7. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. What are the equilibrium price and quantity (in thousands) for Pauline's Pickled Pomegranates?
A) $20 and 10 thousand B) $60 and 20 thousand C) $15 and 45 thousand D) $30 and 15 thousand
The profit-maximizing quantity of labor equates the marginal product of labor with
A) total factor productivity. B) the marginal product of capital. C) the real wage. D) the average product of labor.