Which of the Following Is an Example of a Barrier

question 614

Multiple Choice

Which of the following is an example of a barrier to entry? i) A key resource is owned by a single firm.
Ii) The costs of production make a single producer more efficient than a large number of producers.
Iii) The government has given the existing monopolist the exclusive right to produce the good.

• A) i) and ii) only
• B) ii) and iii) only
• C) i) only
• D) i), ii), and iii)

Recognize the mechanisms of price and nonprice rationing in allocating scarce resources.

Identify the implications of tariffs and international trade policies on domestic markets.

Analyze the impact of government interventions in markets including taxation and tariffs.

Compare and contrast different types of rationing mechanisms beyond price such as queuing and ration coupons.

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Definitions:

Stepfamilies

Families formed when at least one partner in a marriage or committed relationship brings children from a previous union.

Nuclear Families

consist of two parents and their biological or adopted children, living together as a single unit and considered a traditional family structure.

Stress and Conflict

Refers to the emotional and mental strain caused by discord, disagreements, or challenges in interpersonal relationships or life circumstances.

Remarriage

A subsequent marriage following the end of an earlier marital relationship through divorce or widowhood.