Asked by
Daven Babero
on Nov 05, 2024Verified
A barrier to entry prevents ________ a monopolistic industry.
A) new firms from entering and competing in
B) economic losses in
C) government regulation of
D) firms from exiting
Barrier To Entry
Factors that prevent or inhibit new competitors from easily entering an industry or area of business, including high startup costs, strict regulations, and significant technological challenges.
Monopolistic Industry
An industry dominated by a single firm that has control over the market prices and supply of a product or service.
- Identify and explain barriers to entry in a monopolistic industry.
Verified Answer
SB
Learning Objectives
- Identify and explain barriers to entry in a monopolistic industry.