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Author Question: The United States Mint is the only legal entity to produce circulating coinage for the United ... (Read 149 times)

dmcintosh

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on: Jun 29, 2018
The United States Mint is the only legal entity to produce circulating coinage for the United States. What are the barriers to entry, if any, that protect this firm from competition?
 
  A) The United States Mint is a natural monopoly.
  B) The United States Mint has a government license to produce coinage.
  C) The United States Mint is a public franchise to produce coinage.
  D) The United States Mint has a patent or copyright to produce coinage.

Question 2

What two important functions are performed by the price system?
 
  What will be an ideal response?


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brittrenee

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

(1.) The price system is an automatic mechanism for distributing goods and services.
(2.) The price system determines the allocation of resources among producers and the final mix of outputs.


dmcintosh

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Reply #2 on: Jun 29, 2018
Correct answers!


brittrenee

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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