The Fundamental Cause of Monopolies Is Barriers to Entry

question 52

True/False

The fundamental cause of monopolies is barriers to entry.

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Definitions:

Davis-Bacon Act

A federal law that requires the payment of prevailing wage rates to all laborers and mechanics working on public construction projects.

Walsh-Healy Public Contracts Act

A United States federal law that establishes minimum wage, maximum hours, and safety and health standards for work on contracts with the federal government.

Prevailing Wages

The average wage paid to workers within a specific area for a given trade or occupation, often determined by government standards for public works projects.

Pay Ration Reporting Policy

A policy requiring companies to disclose the ratio of compensation of their chief executive to the median compensation of their employees.