Examlex
Brownell's research suggests that when a child of 3 years of age plays and talks differently to a younger child or a handicapped child than he does with a peer or an older child,this is evidence of
Barriers To Entry
Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing for all possible adjustments, including changes in industry size.
Natural Monopoly
A market structure where a single firm can produce the entire market supply of a particular good or service at a lower cost than any potential competitor.
Network Effects
Network effects occur when the value of a product or service increases as more people use it, making it more attractive and beneficial to users.
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