Resources are not free to move into and out of an industry when:
A) there are no differential impediments across firms in the mobility of resources.
B) a firm experiences economies of scale.
C) an incumbent firm has an exclusive government patent.
D) firms are price takers.
Correct Answer:
Verified
Q1: The survivor principle in competitive markets implies
Q3: Use the following figure to answer the
Q4: Which of the following is an assumption
Q5: If firms in a perfectly competitive market
Q6: The competitive firm's demand curve is:
A)unit elastic
Q7: According to the _ principle,firms that do
Q8: Assume that coffee shops operate in a
Q9: A perfectly competitive firm is a price
Q10: For a perfectly competitive firm,the demand curve:
A)coincides
Q11: Which one of the following is not
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