Use the Figure Below, Which Shows the Linear Demand and Constant

question 9

Multiple Choice

Use the figure below, which shows the linear demand and constant cost conditions facing a firm with a high barrier to entry, to answer Questions .
-If the entry barrier is removed consumers will be better off because

• A) consumers will enjoy greater consumer surplus.
• B) productive efficiency will be restored.
• C) competition will eliminate the shortage caused by the entry barrier.
• D) all of the above

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Definitions:

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a given language, specifically the arrangement of words and phrases.

Phonemes

Phonemes are the smallest units of sound in a language that can distinguish one word from another in the language's phonological system.

Benjamin Whorf

An American linguist known for his hypothesis that the structure of a language affects its speakers' cognition and worldview.

Allen Gardner

An American psychologist known for his work in teaching sign language to chimpanzees, notably a chimp named Washoe.