1)Large barriers to entry exist in which of the following market structures? A

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1)Large barriers to entry exist in which of the following market structures?

A. Perfect competition only
B. Perfect competition and monopolistic competition
C. Oligopoly and monopoly
D. Monopoly only

2)A uniform price monopolist's marginal revenue will always be less than market price except for the first unit sold. This is because:

a. there are substantial startup costs and other barriers to entry.

b. demand and marginal revenue have an inverse relationship.

c. monopolists always have higher production costs than other types of firms or industries.

d. the monopolist must reduce the price of all units of output, not just an additional unit, in order to increase sales.

3)The provision of an education in public school is:

A. nonexclusive and rival.

B. exclusive and rival.

C. exclusive and non-rival.

D. Nonexclusive and non-rival.