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Author Question: Which of the following cannot be an effective entry barrier? A) a firm making very high economic ... (Read 185 times)

Starlight

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on: Jun 29, 2018
Which of the following cannot be an effective entry barrier?
 
  A) a firm making very high economic profits
  B) a firm being granted a patent for its product
  C) a firm owning all of a vital resource needed to produce a good
  D) when huge economies of scale exist

Question 2

In the above figure, what is the efficient quantity of hot dogs to produce?
 
  A) 2 thousand per day
  B) 4 thousand per day
  C) 6 thousand per day
  D) The efficient quantity cannot be determined without knowing the PPF for this economy.


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Sierray

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

A

Answer to Question 2

B


Starlight

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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