Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?

Sellers in a perfectly competitive market:

A) are price takers. B) sell differentiated goods and services. C) are not allowed to exit the market. D) are small in number.

Erbia can produce both corn and wheat using fewer inputs than Glassen; however, Glassen can produce corn at a lower opportunity cost than Erbia. Therefore, we can conclude that Glassen has a comparative advantage in wheat production

a. True b. False Indicate whether the statement is true or false