Barriers to entry are obstacles that make it difficult or impossible for additional producers to enter a market.

Name: Barriers to entry are obstacles that make it difficult or impossible for additional producers to enter a market.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Barriers to entry refer to any factors that create obstacles for new firms to enter the market. Such barriers may include high startup costs, regulations, patents, copyrights, economies of scale, brand loyalty, and so on. Therefore, the statement is true.

Barriers to Entry Are Obstacles That Make It Difficult or Impossible