Quiz_139 - 28 A economiesofscale B C D government-imposedbarriers 28 Answer C Diff:1 PageRef:462\/462 Topic BarrierstoEntry LearningOutcom

Quiz_139 - 28 A economiesofscale B C D...

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28) The DeBeers Company of South Africa was able to block competition throughA) economies of scale.B) differentiating its product.C) ownership of an essential input.D) government-imposed barriers.Answer: C28)Diff: 1Page Ref: 462/462Topic: Barriers to EntryLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking29) Patents, tariffs and quotas are all examples of29)Diff: 1Page Ref: 462-463/462-463Topic: Government-Imposed BarriersLearning Outcome: Micro 5: List ways in which governments intervene in markets and explain theconsequences of such interventionAACSB: Reflective Thinking30) Which of the following isnotnecessarily a consequence of occupational licensing laws?30)Diff: 1Page Ref: 462-463/462-463Topic: Government-Imposed BarriersLearning Outcome: Micro 5: List ways in which governments intervene in markets and explain theconsequences of such interventionAACSB: Reflective ThinkingTRUE/FALSE. WriteʹTʹif the statement is true andʹFʹif the statement is false.31) An oligopolistic industry is characterized by a few large firms acting independently.31)Answer:TrueFalseDiff: 1Page Ref: 460/460Topic: Characteristics of OligopolyLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Reflective Thinking32) Monopolistic competition differs from oligopoly in that in monopolistic competition firms actindependently while in oligopoly firms act interdependently.
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