1. Bain and Stigler provide separate definitions of barriers to entry. Which of these would not count as a barrier to entry under Stigler's definition, but would for Bain? a. Advertising with long-term effects b. A patent c. Increasing returns to scale d. High marginal costs 2. What was not argued as a potential deadweight loss of monopoly? a. Excessive focus on research and development b. Producing an efficiently low quantity of the good c. Excessive advertising d. Lobbying to maintain monopoly status 3. What is one reason conglomerate mergers occur? a. To acquire a direct competitor b. To lower costs by moving another part of the supply chain within the firm c. To improve core competency d. To help the ego of the CEO