Because barriers to entry limit the amount of competition in various markets, government policy should be designed to reduce or eliminate such barriers wherever possible

An organization that brings together the factors of production is called

A) an industry. B) a conglomerate. C) a plant. D) a firm.

A firm will hire additional units of any input up to the point where:

a. the marginal productivity of the input is maximized. b. the marginal cost of employing the input is minimized. c. the expense of employing the last unit is equal to the revenue brought in by the last unit. d. the revenue brought in by the input is maximized.