Which of the following is an example of a barrier to entry?
a. Crystal charges a higher price than her competitors for her hair-styling services.
b. Dan charges a lower price than his competitors for his dry-walling services.
c. Jackie offers free samples of her loose-meat sandwiches to attract new customers.
d. Roseanne obtains a copyright for a short story that she wrote and published.
d
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If the price of a cola increased by 12% and consumers responded by purchasing 20% less cola, the absolute value of price elasticity of demand for cola would be
A) 0.20. B) 0.80. C) 1.67. D) 2.40.
For this question, assume that investment spending depends only on the interest rate and no longer depends on output. Given this information, a reduction in the money supply
A) will cause investment to decrease. B) will cause investment to increase. C) may cause investment to increase or to decrease. D) will have no effect on output. E) will cause a reduction in output and have no effect on the interest rate.