Which of the following is not an example of a barrier to entry?
A) An incumbent firm already using the most efficient production method establishes a first-mover advantage by identifying its product as the industry product.
B) A government requires firms seeking to enter an industry to obtain a license to operate.
C) The industry is characterized by significant diseconomies of scale.
D) Ownership of key inputs used to produce the industry product is concentrated among a few firms.
Correct Answer:
Verified
Q1: Long-run average cost is defined as the
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Q3: The establishment of a foreign subsidiary of
Q5: Agglomeration refers to:
A) a consumer-s choice to
Q6: External economies refer to:
A) cost advantages arising
Q7: In principle, a tendency for firms to
Q8: An industry concentration ratio is the:
A) sum
Q9: The relevant market is:
A) defined by the
Q10: A set of laws aimed at promoting
Q11: "Gravity" models of international trade emphasize the
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