Examlex
Match the function with one of the graphs.
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Barriers to Entry
Obstacles that make it difficult for new competitors to enter a market, such as high startup costs, strict regulations, or established brand loyalty.
Economic Profits
The excess of total revenues over total costs, including both explicit costs and opportunity costs, indicating a return beyond the normal profit level.
Accounting Profits
The net earnings of a company as calculated by subtracting total expenses from total revenues, according to standard accounting practices.
Perfect Competitor
A theoretical market structure where many firms sell homogeneous products, entry and exit from the market are free, and all participants have perfect information.
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