Which of the Following Is an Example of a Barrier

question 537

Multiple Choice

Which of the following is an example of a barrier to entry?

• A)Crystal charges a higher price than her competitors for her hair-styling services.
• B)Dan charges a lower price than his competitors for his dry-walling services.
• C)Jackie offers free samples of her loose-meat sandwiches to attract new customers.
• D)Roseanne obtains a copyright for a short story that she wrote and published.

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Definitions:

Laspeyres Index

A price index used to measure the relative change in the price of a fixed basket of goods and services over time, using the quantities of a base period.

Prices

The monetary value assigned to a product or service, determining how much it costs to buy.

Bundle

A combination of various goods and services selected by consumers, used in economics to analyze choices and preferences.

Giffen Good

A product that people consume more of as the price rises, violating the basic law of demand in economics.