Author Question: When there are barriers to entry, a profit-maximizing firm already in the industry can charge any ... (Read 140 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
When there are barriers to entry, a profit-maximizing firm already in the industry can charge any price it wants, even in the long run.
 a. True
  b. False

Question 2

A lobbyist for the coal industry asks Congress to limit environmental constraints on coal-burning plants. This is an example of
 a. the median-voter model
  b. rent seeking
  c. perfect competition
  d. monopoly
  e. public-interest legislation



mcomstock09

  • Sr. Member
  • ****
  • Posts: 377
Answer to Question 1

B

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

For a complete list of videos, visit our video library