Which of the Following Statements About Barriers to Entry Is

question 9

Multiple Choice

Which of the following statements about barriers to entry is false?

• A)They restrict entry into industries in which positive economic profits are being made.
• B)They are somewhat lessened by the existence of patents.
• C)They may be due to legal impediments such as licenses.
• D)They may be due to a single firm controlling access to a natural resource or production process.

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Definitions:

Stereotype Threat

The risk of confirming negative stereotypes about an individual's racial, ethnic, gender, or cultural group which can impair their performance.

Confirmation Bias

The tendency to search for evidence that fits one’s beliefs while ignoring any evidence that does not fit those beliefs.

Convergent

Pertaining to an approach or process that involves bringing different elements together toward a common point or agreement.

Heuristic

A problem-solving approach that employs a practical method or various shortcuts to produce solutions that may not be perfect but are sufficient for the immediate goals.