Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?
a. Ownership of a vital resource.
b. Government franchises and licenses.
c. Patents and copyrights.
d. Economies of scale.
Question 2
Suppose that the price of telephones decreases. If more are purchased then:
a. the total utility of telephones will decrease.
b. the total utility of telephones will be unchanged.
c. the marginal utility of telephones will likely increase.
d. the marginal utility of telephones will likely decrease.
e. both a and d.
Harriet Beecher Stowe’s novel, Uncle Tom’s Cabin, became a staple of the mid-nineteenth-century thea
Apollo Belvedere (detail), Roman copy after a 4th-century BCE Greek original.
Diagram of a section of a 15th-century oil painting
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Position of the fetus in late pregnancy results in stresses on the mother’s body.