Examlex
Which of the following western regions is mostly a mixture of steppe and semi-desert?
Entry Barriers
Entry Barriers are obstacles that make it difficult for new entrants to enter an industry, protecting existing firms from competition.
Oligopoly
An oligopoly is a market structure dominated by a few large firms, leading to limited competition and possibly collaborative behavior to control prices and market share.
Increasing Returns To Scale
Long-run average total cost declines as output increases (also referred to as economies of scale).
Barriers To Entry
Obstacles that make it difficult for new competitors to enter a market, such as high start-up costs or strict regulations.
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