Which of the following cannot be an effective entry barrier?
A) a firm earning very high economic profits
B) a firm being granted a patent for its product
C) a firm owning all of a vital resource needed to produce a good
D) when huge economies of scale exist
Correct Answer:
Verified
Q5: A monopoly is best defined as a
Q6: When natural or legal forces work to
Q7: Which of the following is a barrier
Q9: Which of the following is NOT a
Q10: Which of the following is a characteristic
Q13: If the government grants a firm a
Q14: A legal monopoly is defined as a
Q15: Which of the following firms is most
Q17: A barrier to entry is
A) a natural
Q19: A public franchise is
A) an exclusive right
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