High training costs help firms maintain

Name: High training costs help firms maintain
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

High training costs can act as a barrier to entry, making it more difficult for new firms to enter the industry and compete with established firms. This can help firms maintain market power and decrease the threat of new entrants, by making it more expensive and time-consuming for competitors to acquire the necessary skills and knowledge to compete.

High Training Costs Help Firms Maintain