Obstacles that prevent other firms from entering the industry would be called:
A)product differentiation.
B)a barrier to entry.
C)market power.
D)patents and copyrights.

Question

Quizplus · Accepted Answer

A barrier to entry refers to obstacles that prevent other firms from entering an industry, such as high start-up costs, economies of scale, or government regulations. Product differentiation, market power, patents and copyrights can all contribute to a barrier to entry, but they are not the same thing.

Obstacles That Prevent Other Firms from Entering the Industry Would