Which of the following is not a barrier to entry?
A. Patents.
B. X-inefficiency.
C. Economies of scale.
D. Ownership of essential resources.
Answer: B
Economics
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John only works in the summer between semesters. What type of unemployment is he experiencing?
a. Frictional b. Seasonal c. Structural d. Cyclical
Economics
Every value in a payoff matrix represents the:
A. gain or loss of a decision for each player given the decisions of other players. B. gains and losses of decisions for each player regardless of the decisions of other players. C. best possible outcomes of various players in a game. D. worst possible outcomes of various players in a game.
Economics