If There Are Barriers to Entry into a Market,it Is

question 19

Multiple Choice

If there are barriers to entry into a market,it is possible for the existing firm(s) to earn positive economic profits.All of the following explain this except:

• A)new firms cannot enter to take advantage of the profits.
• B)resource immobility.
• C)it is possible for a firm in this situation to charge any price it wants and thus preclude anyone else from entering.
• D)competition does not erode profits the way it would under perfect competition.

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Definitions:

Cognitive Development

The manner in which people learn to think, reason, and use language; it involves a person’s intelligence, perceptual ability, and ability to process information, and represents a progression of mental abilities from illogical to logical thinking, from simple to complex problem solving, and from understanding concrete ideas to understanding abstract concepts.

Musculoskeletal Development

The growth and strengthening of bones, muscles, and joints, which is crucial for physical movement and stability.

Birth Weight

The weight of a newborn immediately after birth, a critical indicator of neonatal health and future development.

6 Months

A half-year period consisting of approximately 182.5 days, commonly used to measure time in contexts such as age, experience, and project timelines.