Which of the Following Industries Is Least Likely to Exhibit

question 211

Multiple Choice

Which of the following industries is least likely to exhibit the characteristic of free entry?

• A)ethnic restaurants
• B)municipal water and sewer
• C)corn farming
• D)grocery stores

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Definitions:

Maximize

To increase to the greatest possible amount or degree.

Minimize

To reduce something to the smallest possible level or amount.

Profits

The financial gains obtained when revenues exceed the costs and expenses incurred to operate the business.

Total Costs

The sum of all costs incurred by a business in producing a certain amount of goods or services.