Name some of the barriers to entry that can be created by a competitive firm to protect profits?
The following are some ways in which firms can delay the entry of competitors and extend profits over time:
a) Growing size and investment in specific assets.
b) Creating brand names and trademarks
c) Building healthy public relations
d) Influencing the government
You might also like to view...
Which of the following areas employed more workers in 2013?
a. educational and health services b. business and professional services c. retail trade d. manufacturing companies
Given input prices and the usual strategy of a profit-maximizing firm, efficient production occurs at
A. the highest isocost C for a given isoquant Q. B. the lowest isocost C for a given isoquant Q. C. the highest isoquant Q for a given isocost C. D. the lowest isoquant Q for a given isocost C.
? A Two-Good Market
Considering the data from the table shown above, assuming that the market basket cost of light bulbs and volleyballs in the base year was $4500, what would be the price index for the year 2020?
A. 92.70 B. 100.00 C. 177.78 D. 156.30
Evaluate this statement: “A monopolistic ally competitive industry would be more efficient if there were fewer firms.”
What will be an ideal response?