Free entry is said to exist in an industry when: A) all firms ...

[Yolanda]

Free entry is said to exist in an industry when:
 
  A) all firms entering an industry enjoy economies of scale.
  B) entry is unfettered by any special legal or technical barriers.
  C) equal amounts of inputs are available to all firms entering an industry.
  D) the government subsidizes costs for all new firms entering an industry.

Question 2

Refer to the scenario above. If Frank discounts delayed utilities with a weight of 8/10, then which of the following statements is true?
 
  A) He will consume both hotdogs and ice cream.
  B) He will consume hotdogs but will avoid consuming ice cream.
  C) He will consume ice cream but will avoid consuming hotdogs.
  D) He will avoid consuming both hotdogs and ice cream.

[amit]

Answer to Question 1

B

Answer to Question 2

C

[Yolanda]

Correct answers!

[amit]

Great! Please up vote