The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7

-Which of the following is an industry without significant barriers to entry?
A)Electricity generation
B)Natural gas distribution
C)Cable television provision
D)Corn farming
E)Postal services

Question

The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
 
-Which of the following is an industry without significant barriers to entry?
A)Electricity generation 
B)Natural gas distribution 
C)Cable television provision 
D)Corn farming 
E)Postal services

Quizplus · Accepted Answer

The industry that does not have significant barriers to entry is corn farming. This is because anyone can start a corn farm with the necessary resources, land, and equipment. On the other hand, the other industries listed have significant barriers to entry, such as high startup costs or government regulations.

The Figure Given Below Shows the Aggregate Demand and Supply