Which of the following barriers to entry into a market is most beneficial from society's perspective?
A) Economies of scale.
B) Ownership of an essential productive resource.
C) Brand loyalties.
D) Consumer lock-in and switching costs.
A
Economics
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Consider the two economies of Lithasia and Barylia. Economic agents in Lithasia have coordination and incentive problems, while in Barylia social surplus is maximized
Which economic system does each of these economies most likely have? Explain your answer.
Economics
Elasticity is a measure of the responsiveness of change in quantity demanded to a change in price
a. True b. False Indicate whether the statement is true or false
Economics