Which of These Is the BEST Example of a Barrier

question 266

Multiple Choice

Which of these is the BEST example of a barrier to entry?

• A) comparative advantage
• B) high elasticity of demand
• C) a U-shaped long-run average cost curve
• D) a government franchise

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Definitions:

Unordered Sample

A collection of outcomes where the order of occurrence is irrelevant or not considered.

Replacement

The process of substituting one element for another in a particular context, such as replacing a part in machinery or modifying a dataset.

Inferences

The process of drawing logical conclusions about a population based on sample data.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to infer the population parameter.