______ describe(s) a type of barrier to entry for a monopoly in which one firm can operate more efficiently than two or more firms.
A) Patents
B) Copyrights
C) Economies of scale
D) Price discrimination

Question

Quizplus · Accepted Answer

Economies of scale describe a situation where a single firm can produce at a lower average cost than two or more firms, creating a barrier to entry because new entrants cannot compete on price.

______ Describe(s) a Type of Barrier to Entry for a Monopoly