Answer:
C. impose barriers to entry with a copyright, which allows only the government to supply a good or service.
Explanation:
- The oligopolies is a market or industry where there exist small but large sellers and hence form an market competition and hence lead to higher prices to the consumers. As they have their market structures. Entry barriers include high investment and strong consumer liabilities.'
- Thus governments can set barriers to entry of these firm as to market only those goods and services that the government recommend fit for the sales
Answer:
The government policy should have reduced beer consumption by 0.6 or 60%
Explanation:
Mid point formula calculates the ratio of mid point of change in demand and change in price to their average value. Then these changes are used in the calculations of elasticity of demand.
According to given data:
Elasticity of demand = 0.9
Midpoint of price = (20-10) / [(20+10)/2] = 10 / 15 = 0.6667
Elasticity of Demand = Midpoint of demand / Midpoint of price
0.9 = Midpoint of demand / 0.6667
Midpoint of price = 0.9 x 0.6667 = 0.6
Change in demand is should reduce the consumption by 0.6 or 60%.
As prosperity and economic development rise, individualism increases as well.
Individualism refers to the freedom of someones actions. If the economy is doing well and someone has more money, they are more likely to spend their money freely. The person has moral worth as an individual.
