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The barriers to entry result from three sources. Explain in brief the three sources.
Average Variable Cost
The total variable cost divided by the quantity of output produced, representing the cost of producing one more unit.
Market Price
The contemporary pricing at which a good or service is available for trading in a market context.
Purely Competitive Market
An economic setup marked by the presence of numerous small-sized companies, identical products, and straightforward market entry and exit, culminating in firms accepting prevailing market prices.
Cost Data
Information related to the expenses incurred in the production of goods or services, including materials, labor, and overhead costs.
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