Creative destruction harms workers in activities that become obsolete or inefficient.
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As competitors enter and provide substitutes, competition in…
As competitors enter and provide substitutes, competition increases.
Examples of cartels include all the following except:
Examples of cartels include all the following except:
Most industries experience only economies of scale.
Most industries experience only economies of scale.
Which of the following would not be likely to result in dise…
Which of the following would not be likely to result in diseconomies of scale?
In the long run, if a perfectly competitive firm cannot cove…
In the long run, if a perfectly competitive firm cannot cover its costs, the profit-maximizing firm will
Significant barriers to entry exist in monopolistically comp…
Significant barriers to entry exist in monopolistically competitive markets.
Compared to a brand name firm, a firm with no obvious stake…
Compared to a brand name firm, a firm with no obvious stake in the future has an easier time persuading potential customers that it will make good on its promises.
____ can arise as the result of economies of scale
____ can arise as the result of economies of scale
“Unique resources” as a barrier to entry is exemplified in a…
“Unique resources” as a barrier to entry is exemplified in all of the following except: