Which of the following is not a reason why government officials are willing to

Which of the following is not a reason why government

  • New York University
  • MICRO 16
  • Test Prep
  • zhangyu132
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20) Which of the following isnota reason why government officials are willing to impose entrybarriers? A) to promote an equitable distribution of incomeB) to encourage innovation which may improve the standard of living in the long runC) to raise revenueD) to increase economic efficiencyAnswer: A 20) Diff: 1 Page Ref: 462 - 463/462 - 463 Topic: Government - Imposed Barriers Learning Outcome: Micro 5: List ways in which governments intervene in markets and explain the consequences of such intervention AACSB: Reflective Thinking 21) Interdependence of firms is most common in 21) Diff: 1 Page Ref: 460/460 Topic: Interdependence Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking 22) Oligopolies exist and do not attract new rivals because 22) Diff: 1 Page Ref: 461/461 Topic: Barriers to Entry Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking 23) An example of a barrier to entry is 23) Diff: 2 Page Ref: 461/461 Topic: Barriers to Entry Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking 6
24) Which of the following is important in determining the extent of competition in an industry? A) whether or not the industry product is differentiated or standardizedB) the minimum level of short run average total costs of productionC) the minimum efficient scale of production relative to market demandD) the level of market demand for the industryʹs productAnswer: C 24) Diff: 2 Page Ref: 461/461 Topic: Economies of Scale Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies AACSB: Reflective Thinking

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