The United States Mint is the only legal entity to produce circulating coinage for the United States. What are the barriers to entry, if any, that protect this firm from competition?
A) The United States Mint is a natural monopoly.
B) The United States Mint has a government license to produce coinage.
C) The United States Mint is a public franchise to produce coinage.
D) The United States Mint has a patent or copyright to produce coinage.
C
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Generally speaking, the Tiebout model is _____
a. the idea that intergovernmental competition reveals consumer preferences for public goods b. the idea that the lack of mobility can be offset by intergovernmental comparison c. the idea that intergovernmental competition is Pareto superior d. the idea that mobility is not necessary to intergovernmental competition
The industrial organization economics perspective locates the source of competitive advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above