Barriers to entry do not occur when:
a. economies of scale in production exist in an industry.
b. firms requires a professional license or franchise agreement.
c. the firm that introduces a product is granted a patent.
d. a firm controls a scarce resource.
e. diseconomies of scale in production exist in an industry.
e
You might also like to view...
What is the relationship between price, marginal revenue, and total revenue for a monopolist?
What will be an ideal response?
Assume the firms firms operating in an oligopolistic market experience a relatively small change in marginal costs. According to the kinked demand curve model this would:
A) cause a large change in the profit-maximizing level of output. B) leave the equilibrium price unchanged. C) cause the profit-maximizing level of output to change by the same amount and in the same direction. D) cause the profit-maximizing price to change by the same amount but in the opposite direction.
What causes employers or employees to behave opportunistically?
Depository institutions
What will be an ideal response?