Which of the following are common barriers to entry?
A) economies of scale B) absolute unit-cost advantages
C) capital access and costs D) all of the above
Answer: D
Economics
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A cartel usually has a collusive agreement to
A) restrict output. B) boost output. C) lower the price. D) increase the number of firms in the industry.
Economics
The desire to smooth consumption is reflected in
A) the consumer's budget constraint. B) the curvature in a consumer's indifference curves. C) choice between present and future. D) the production possibilities frontier.
Economics