In discussions of barriers to entry, what is meant by the term virtuous cycle?
A) A virtuous cycle refers to successful research and development that leads to information that is used to develop other new products.
B) A virtuous cycle refers to the situation where the pursuit of self-interest in establishing an entry barrier leads to an increase in social welfare (the invisible hand).
C) A virtuous cycle refers to a situation where if a firm can attract enough customers initially, it can attract additional customers because its product's value has been increased by other customers using it, which attracts even more customers.
D) A virtuous cycle refers to a firm using the profits from a monopoly in one market to establish a monopoly in another market.
Question 2
The four-firm concentration ratio of the aircraft industry is over 80 percent. Most economists would consider this industry an oligopoly.
Indicate whether the statement is true or false
Gametic life cycle, as illustrated by diatoms
Calvin cycle
Phases of the Cell Cycle
Life cycle of Rhizopus stolonifer, a black bread mold
Generalized life cycle for land plants
Life cycle of a fern