21.Amarketstructurewithbarrierstoentryis
a.amonopoly.
b.oligopolisticallycompetitive.
c.monopolisticallycompetitive.
d.perfectlycompetitive.
22.Mostmarketsarenotmonopoliesintherealworldbecause
a.firmsusuallyfacedownward-slopingdemandcurves.
b.supplycurvesslopeupward.
c.firmsusuallyequatepricewithmarginalcost.
d.therearereasonablesubstitutesformostgoods.
23.Whichofthefollowingstatementsisnotcorrect?
a.Consumerswilllikelybenefitintheformoflowerpricesfrombuyingaproductmadebyanaturalmonopolythanifthemarketwereservedbyseveralfirms.
b.Monopoliststypicallychargehigherpricesthancompetitivefirms.
c.Monopoliststypicallyproducelargerquantitiesofoutputthancompetitivefirms.
d.Consumersmaybenefitfrommonopoliesifthefirmsinvesttheirhigherprofitsintosomethingthatbenefitssocietysuchasmedicalresearch.
24.Whichofthefollowingisnotanexampleofabarriertoentry?
a.MightyMitch’sMiningCompanyownsauniqueplotoflandinTanzania,underwhichliestheonlylargedepositofTanzaniteintheworld.
b.Apharmaceuticalcompanyobtainsapatentforaspecifichighbloodpressuremedication.
c.Amusicianobtainsacopyrightforheroriginalsong.
d.Anentrepreneuropensapopularnewrestaurant.
25.Whichofthefollowingisnotanexampleofabarriertoentry?
a.MightyMitch’sMiningCompanyownsauniqueplotoflandinTanzania,underwhichliestheonlylargedepositofTanzaniteintheworld.
b.Acollegestudentstartsapart-timetutoringbusiness.
c.Anovelistobtainsacopyrightforhernewbook.
d.AtaxicabdriverinNewYorkCityobtainsalicensetolegallyprovidetransportationinNewYorkCity.
26.Whichofthefollowingisnotanexampleofabarriertoentry?
a.MightyMitch’sMiningCompanyownsauniqueplotoflandinTanzania,underwhichliestheonlylargedepositofTanzaniteintheworld.
b.Achemistreceivesapatentforanewskincream.
c.Anentrepreneuropensacupcakebakery.
d.AtaxicabdriverinNewYorkCityobtainsalicensetolegallyprovidetransportationinNewYorkCity.
27.Whichofthefollowingisnotanexampleofabarriertoentry?
a.Asoybeanfarmeristhefirstinhercountytouseanewbrandoffertilizer.
b.MicrosoftobtainsacopyrightforitsWindowsoperatingsystem.
c.Apharmaceuticalcompanyobtainsapatentforanewmedicationtotreatmigraineheadaches.
d.AtaxicabdriverinNewYorkCityobtainsalicensetolegallyprovidetransportationinNewYorkCity.
28.Whichofthefollowingisnotanexampleofabarriertoentry?
a.Johnownstheonlyparceloflakesidepropertywithabeachthatissafeforswimming.Hechargesadmissiontoneighborswhowanttousethebeach.
b.Jackieownsthecopyrighttoapopularsong.Shereceivesroyaltieseverytimearadiostationplayshersong.
c.JohnJr.ownsthebestseafoodrestaurantinapopularresortarea.Hechargeshighpricesbecausethequalityofthefoodissogood.
d.Carolineownsthepatentforanewrunningshoe.Shereceivespaymentsfromthecompanywhomanufacturestheshoes.
29.Whichofthefollowingisanexampleofabarriertoentry?
a.Tomchargesahigherpricethanhiscompetitorsforhisgolflessons.
b.Dickchargesalowerpricethanhiscompetitorsforhislawn-mowingservices.
c.HarryoffersfreeconcertsonSundayafternoonsasaformofadvertising.
d.Larryobtainsacopyrightforthenewcomputergamethatheinvented.
30.Whichofthefollowingisanexampleofabarriertoentry?
a.Crystalchargesahigherpricethanhercompetitorsforherhair-stylingservices.
b.Danchargesalowerpricethanhiscompetitorsforhisdry-wallingservices.
c.Jackieoffersfreesamplesofherloose-meatsandwichestoattractnewcustomers.
d.Roseanneobtainsacopyrightforashortstorythatshewroteandpublished.
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