Suppose ABC Aluminum Inc. owns 80% of the world's bauxite, a mineral used in the production of aluminum. Which of the following reasons describes the fundamental barrier to entry for the aluminum industry?

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ABC Aluminum Inc. owning 80% of the world's bauxite creates a fundamental barrier to entry for the aluminum industry because it gives them a monopoly on the key resource needed for production. This makes it difficult for new competitors to enter the market and compete on price and supply. Government regulation may also play a role in the industry, but it is not the fundamental barrier to entry. The production process is not a barrier in this scenario as it is a known process and not exclusive to any one company.