Which of the following is not a barrier to entry which leads to monopoly power.
A) economies of scale
B) control over key patents
C) control of an essential resource
D) government-imposed barriers to entry
E) homogeneous product

Question

Quizplus · Accepted Answer

A homogeneous product refers to a market where all producers sell an identical product, which means that consumers are indifferent to which producer they buy from. Because consumers have perfect information and no preference for one producer over the other, new firms can easily enter the market and compete with established firms. Therefore, a homogeneous product is not a barrier to entry that can lead to monopoly power.

Which of the Following Is Not a Barrier to Entry