Which of the Following Cannot Be an Effective Entry Barrier

question 353

Multiple Choice

Which of the following cannot be an effective entry barrier?

• A) a firm earning very high economic profits
• B) a firm being granted a patent for its product
• C) a firm owning all of a vital resource needed to produce a good
• D) when huge economies of scale exist

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Definitions:

Standard of Care

A legal benchmark requiring individuals to exercise reasonable care and skill when performing actions that could foreseeably harm others.

Occupier

An individual or group that resides in or takes possession of a particular place or property.

Property

Legal rights over assets, tangible or intangible, that allow the owner to use, enjoy, and dispose of these assets.

Legal Position

An individual's or entity's rights, responsibilities, and standing under the law.