Barriers to entry are conditions that make it difficulty for new firms to enter an industry or market where existing firms have long run interests.

Question

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Barriers to entry are factors such as high start-up costs, exclusive ownership of key resources, government regulations, and brand loyalty that can prevent new firms from entering an industry or market. These factors may give existing firms an advantage and make it difficult for new firms to compete.

Barriers to Entry Are Conditions That Make It Difficulty for New