Which of the following is not an example of a barrier to entry?
a. John owns the only parcel of lakeside property with a beach that is safe for swimming. He charges admission to neighbors who want to use the beach.
b. Jackie owns the copyright to a popular song. She receives royalties every time a radio station plays her song.
c. John Jr. owns the best seafood restaurant in a popular resort area. He charges high prices because the quality of the food is so good.
d. Caroline owns the patent for a new running shoe. She receives payments from the company who manufactures the shoes.
c
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The discovery of new natural resources will cause
A) the economy to move closer to the production possibilities curve. B) the production possibilities curve to shift up and to the right. C) an upward movement along the curve. D) the curve to shift back and to the left.
Which of the following is one of the main obstacles for macroeconomics research?
What will be an ideal response?