Profits will be
A. high, regardless of the degree of rivalry if there are no entry barriers.
B. low, when the degree of rivalry is high.
C. high, when the degree of rivalry is high.
D. low, when the degree of rivalry is low.
Answer: B
Economics
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During the 1950s and 1960s, the national debt as a percent of GDP in the United States
a. soared to an all-time high. b. declined. c. increased. d. was virtually unchanged.
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