What Do Economies of Scale, the Ownership of Essential Raw

question 164

Multiple Choice

What do economies of scale, the ownership of essential raw materials, and patents have in common?

• A)They must all be present before price discrimination can be practiced.
• B)They are all barriers to entry.
• C)They all help explain why a monopolist's demand and marginal revenue curves coincide.
• D)They all help explain why the long-run average cost curve is U-shaped.

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Definitions:

Married Men

Adult males who are legally joined in marriage to a spouse.

Employment Discrimination

Unequal treatment of people on the basis of their race, gender, or religion, restricting their employment and earnings opportunities compared with others of similar productivity. Employment discrimination may stem from the prejudices of employers, customers, fellow employees, or all three.

Economic Theory

A set of definitions, postulates, and principles assembled in a manner that makes clear the “cause-and-effect” relationships.