Some economists argue the reason Nike has such a high market share in the athletic shoe industry is because the company spends much more on media advertising and for endorsement contracts than other shoe manufacturers.This makes it difficult for new companies to enter the industry and compete against Nike because it has created:
A) economies of scale.
B) barriers to entry.
C) economic censorship.
D) protestant ethic.
E) non-competitive pricing.
Correct Answer:
Verified
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