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Explain Three Different Types of Barriers to Entry in Monopoly

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Explain three different types of barriers to entry in monopoly.


Definitions:

Coefficient Alpha

A reliability coefficient that measures the internal consistency of a test or scale; it is commonly used in psychometrics.

Reliability

The reliability of an evaluation tool in generating steady and unchanging outcomes over various periods.

Spearman-Brown Formula

A mathematical formula that can be used with split-half or odd-even reliability estimates to increase the accuracy, which is impaired because of the shortening (splitting in half) of the test.

Reliability Estimate

A measure of the consistency of a psychological test or assessment tool across time, items, and raters, indicating its stability and dependability.

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