Which of the Following Is a Potential Barrier to Entry

question 141

Multiple Choice

Which of the following is a potential barrier to entry into a monopoly market?

• A)The monopolist owns a key resource or input.
• B)Too many competitors already exist in the market.
• C)High input costs.
• D)Few buyers.

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Definitions:

Specialize And Trade

The economic practice where individuals or entities focus on a limited scope of production to increase efficiency and then exchange their outputs for varied goods or services.

Export

The process of sending goods or services produced in one country to another country for sale or trade.

Import

Products or services that are transported into a country from another with the intent to sell them.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade and resource allocation.