Asked by
Halei Nesbitt
on Nov 05, 2024Verified
All of the following are barriers to entry except
A) network effects.
B) control of scarce resources.
C) externalities.
D) economies of scale.
Barriers To Entry
Factors that make it difficult for new firms to enter an industry, such as high initial investment, legal restrictions, or strong brand loyalty among consumers.
Network Effects
The phenomenon whereby increased numbers of people or participants improve the value of a good or service.
Economies Of Scale
The benefit that larger operations have, which allows them to produce goods or services at a lower unit cost as production scales up.
- Recognize and elucidate obstacles to entering a monopolistic market.
Verified Answer
TJ
Learning Objectives
- Recognize and elucidate obstacles to entering a monopolistic market.