Which of the Following Creates a Barrier to Subsequent Entries

question 56

Multiple Choice

Which of the following creates a barrier to subsequent entries in an industry dominated by first movers?

• A)The laissez-faire stance toward trade adopted by first movers
• B)Implementation of policies to maximize imports and minimize exports
• C)Specializing in the production of goods for which firms have an comparative advantage
• D)The ability of first movers to benefit from increasing returns
• E)Decrease in the variety of goods available to consumers and increase in the cost of existing goods

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Definitions:

Less Likely Cooperate

The decreased likelihood or willingness to work together with others towards a common goal.

Social Loafing

A phenomenon where individuals exert less effort when working in a group than when working alone.

Group Outcomes

The results or consequences of activities and dynamics within a team or collective.

Others' Efforts

The contribution and hard work of other people which can impact an individual's motivation and performance.