Which of the Following Is a Barrier to Entry into a Monopoly

question 135

Multiple Choice

Which of the following is a barrier to entry into a monopoly market?

• A)Economic profits for the monopolist.
• B)Economies of scale.
• C)A large number of firms in the industry.
• D)Production of a homogeneous product.

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Definitions:

Opportunity Costs

The cost of foregoing the next best alternative when a decision is made to pursue a particular action.

Total Revenues

The total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.

Entrepreneur's Talent

The unique set of skills, insights, and intuitions possessed by an entrepreneur that contributes to the successful establishment and growth of a business.

Implicit Costs

Indirect, non-monetary expenses involved in pursuing an activity or decision, often reflected as the opportunity cost of using resources.