A virtuous cycle occurs
A) when a firm can attract enough buyers initially to increase a product's usefulness to attract even more buyers.
B) when lobbyists petition members of Congress to grant a public franchise; the lobbyist then raise money for those Congress members who granted the franchise.
C) when monopoly profits are used to create new products for additional monopoly profits.
D) when a firm's sales volume reaches a level where the firm can take advantage of economies of scale; thereby reducing the price of the product to further boost its sales.
Question 2
A patent is a government-imposed entry barrier because
A) it is a key input owned by the firm that is granted the patent.
B) it allows a firm to achieve economies of scale.
C) it gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.
D) it limits the quantity of a good that can be imported into a country.
Nitrogen Cycle
The fate of carbon in the citric acid cycle
Major regulatory factors controlling pyruvate dehydrogenase and the citric acid cycle
The rock cycle and the Earth’s physical environment
Events of the cardiac cycle
Life cycle of a typical flowering plant.