Examlex
Write as a product of linear factors.
Entry Barriers
Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.
Collusion
An agreement between two or more parties, often in a secretive manner, to limit open competition by deceiving or defrauding others of their legal rights, or to obtain an objective forbidden by law, typically by defrauding or gaining an unfair market advantage.
Homogeneous Product
A product or service that is perceived by consumers as identical in all essential features and quality to a product or service offered by competing companies.
Differentiated Product
A product that is distinct in some way from other products in the market, often through quality, design, or features, allowing it to stand out to consumers.
Q6: Which of Petit's observations about the three
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