Which of the Following Describes a Barrier to Entry

question 161

Multiple Choice

Which of the following describes a barrier to entry?

• A) something that establishes a barrier to expanding output
• B) anything that protects a firm from the arrival of new competitors
• C) a government regulation that bars a monopoly from earning an economic profit
• D) firms already in the market incurring economic losses so that no new firm wants to enter the market
• E) Firms are legally prohibited from exiting the market in order to enter another market.

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Definitions:

Self-Concept

An individual's perception of themselves, including beliefs about one's own abilities, appearance, and personality.

Bystander Apathy

A psychological phenomenon where individuals are less likely to offer help to a victim when other people are present.

Diffusion of Responsibility

A socio-psychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.