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13) Which of the following statements about barriers to entry is false? A) They may be due to legal impediments such as licenses. B) They

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13) Which of the following statements about barriers to entry is false? A) They may be due to legal impediments such as licenses. B) They are somewhat lessened by the existence of patents. C) They restrict entry into industries in which positive economic profits are being made. D) They may be due to a single firm controlling access to a natural resource or production process. 14) Assume that for a particular firm's output price = $ 160, marginal cost = $ 100, average total cost = $ 60. Based on this information, the firm's Lerner Index is equal to: A) 0.625. B) 0.6. C) 0.313. D) 0.375

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