When the Government Imposes a Barrier to Entry in a Market

question 91

Multiple Choice

When the government imposes a barrier to entry in a market,

• A) more resources will be wasted by firms attempting to secure and maintain market power.
• B) the options available to consumers will increase in the protected market.
• C) allocative efficiency will be improved by the reduction of wasteful competition.
• D) consumers will be better able to direct the smaller number of producers to serve their interests.

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Definitions:

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Sensitivity Training

A form of training designed to help individuals develop empathy and understanding towards differences and diversity among people.

Ethics Training

Educational programs or workshops designed to inform individuals about the principles of moral and ethical decision-making relevant to a particular profession, organization, or society.