The situation in which the marginal product of labor is greater than zero and declining as more labor is hired is called the law of:

Refer to Scenario 10.6. If red rubber balls can be produced at any of the three plants, what is the marginal cost of 5th red rubber ball?

A) 4 B) 5 C) 8 D) 20 E) none of the above

A barrier to entry

A) makes it illegal for firms to enter the industry. B) can be thought of as unrelated to monopoly. C) slows or even prevents entry into a market. D) usually takes the form of a cartel.