Increases in the marginal product of labor result from
A) increasing the usage of all inputs. B) the division of labor and specialization.
C) the use of new technology. D) hiring more efficient workers.
Question 2
A patent is an example of
A) how ownership of a key input creates a barrier to entry.
B) a government-imposed barrier to entry.
C) how market failure can lead to oligopoly.
D) occupational licensing.