All of the following are considered a barrier to entry into a market EXCEPT
A) government licenses.
B) persistent declining long-run average costs as output increases.
C) lowering tariffs.
D) governmental regulations of business conduct relating to workplace conditions.
C
Economics
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Which of the following statements is true?
A) Economics is concerned with money, not choices. B) Economics can be used to predict people's actions. C) Economics does not provide insights into human behavior. D) Economic reasoning tends to reduce the quality of decision making.
Economics
According the Lucas' misperception model, when prices unexpectedly rise, suppliers infer that their relative prices have _____, which induces them to _____ output
a. decreased; increase. b. increased; decrese. c. decreased; decrease. d. increased; increase.
Economics