Which of the following industries is most likely to exhibit the characteristic of free entry?
A)nuclear power
B)municipal water and sewer
C)dairy farming
D)airport security

Question

Quizplus · Accepted Answer

Dairy farming is an industry with relatively low barriers to entry. It requires land, cows, and equipment, which are relatively accessible and affordable for small-scale farmers. In contrast, the other industries listed (nuclear power, municipal water and sewer, and airport security) have high barriers to entry due to high fixed costs, regulatory requirements, and significant economies of scale.

Which of the Following Industries Is Most Likely to Exhibit