Which of the Following Are Barriers to Entry That Can

question 92

Multiple Choice

Which of the following are barriers to entry that can give rise to a monopoly?
(i) a patent giving exclusive right to manufacture a new electronic device
(ii) a single firm buys all the rights to mine iron ore in Australia
(iii) a single firm can produce at lower cost than several firms

• A)(i) only
• B)(i) and (ii) only
• C)(ii) and (iii) only
• D)(i), (ii), and (iii)

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Definitions:

Egocentric Thinking

A type of thinking where an individual perceives the world solely from their own perspective, often neglecting or being unable to understand the viewpoint of others.

Conservation

A principle in environmental science focused on protecting natural resources and the environment for future generations.

Assimilation

A cognitive process where individuals integrate new information into existing frameworks or schemas.

Accommodation

In psychology, the process by which individuals adjust their schemas or ways of thinking to incorporate new information.