When Entry Barriers into a Market Are High

question 210

Multiple Choice

When entry barriers into a market are high,

• A) a monopolist will always be able to make an economic profit.
• B) rival firms will enter and drive price down to the level of per-unit costs if the firms in the market are making economic profit.
• C) entry into the market will not take place, at least not quickly, even if the firms currently in the market are making economic profits.
• D) the producers in the market will have little or no incentive to produce efficiently (at a low cost).

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