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Community policing has three dimensions: the philosophical dimension, the strategic dimension, and the tactical dimension. Describe each of these dimensions.
Barriers To Entry
Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, regulatory requirements, and established brand loyalty.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing an excess return over and above normal profits.
Price Takers
Firms or individuals who accept the market price as is because they do not have enough market power to influence the price of the goods or services they sell.
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