Which One of the Following Is Not a Possible Barrier

question 116

Multiple Choice

Which one of the following is not a possible barrier to entry high enough to keep competing firms out of a monopoly industry?

• A) The monopoly firm has control of a key resource necessary to produce a good.
• B) There are important network externalities in supplying a good or service.
• C) Large economies of scale that result in a natural monopoly.
• D) A high concentration ratio.

Recognize the practical applications and implications of monetary concepts on personal finance decisions.

Explain the mechanisms in place to prevent bank panics and ensure the stability of the banking system.

Understand the basic concepts and definitions of standard costing, including direct labor, efficiency standards, and standard costs.

Differentiate between ideal standards and normal standards and their impact on variances.

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development where children aged 7 to 11 years are able to think logically about concrete events and understand the concept of conservation.

Conservation

The principle that certain properties of an object, like volume or mass, remain the same even if its appearance changes, essential to cognitive development in children as identified by Jean Piaget.

Numerically Impossible

A term referring to tasks or events that cannot occur due to mathematical constraints or limitations.

Karen Wynn

A cognitive psychologist known for her research on the foundations of human cognition, particularly in infants, including their understanding of numbers and social evaluation.