____________________ Constitute(s) Perhaps the Most Significant Barrier to Entry into an Oligopolistic

question 163

Multiple Choice

____________________ constitute(s) perhaps the most significant barrier to entry into an oligopolistic market.

• A)Patent rights
• B)Exclusive ownership of essential resources
• C)Legal barriers
• D)Economies of scale
• E)Copyrights

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option during decision-making, which embodies the advantages lost by selecting one choice over the others.

Alfalfa

A perennial flowering plant widely cultivated as forage for cattle, horses, and other livestock, known for its high nutritional content.

Opportunity Cost

The expense associated with not choosing the second-best option when a decision is made.

Soybeans

A type of legume native to East Asia, widely grown for its edible beans which are used in various food products and for oil.