Which of the following constitutes a barrier limiting the entry of potential competitors into a market?

a. diseconomies of scale
b. an elastic market demand for the product produced by the industry
c. control over an essential resource
d. a perfectly elastic demand curve


C

Economics

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If the monopoly illustrated in the figure above could engage in perfect price discrimination, then when it maximizes its profit the total revenue collected by the firm would be

A) $110. B) $120. C) $210. D) $310.

Economics

In the capital market, the purchase price is what a:

A. producer pays to gain permanent ownership of a factor of production. B. consumer pays to use labor or land services for a certain period or task. C. consumer pays to gain permanent ownership of a factor of production. D. producer pays to use a factor of production for a certain period or task.

Economics

Using Figure 1.6, if an economy has the capacity to produce represented by PP1, then point E represents

A. A change in technology. B. An efficient use of resources. C. A combination of cars and SUVs that is not attainable. D. A constant trade-off between cars and SUVs.

Economics

Refer to the data. If the market price for the firm's product is $32, the competitive firm will produce:



A. 8 units at an economic profit of $16.
B. 6 units at an economic profit of $7.98.
C. 10 units at an economic profit of $4.
D. 7 units at an economic profit of $41.50.

Economics