Obstacles That Make It Difficult or Impossible for Additional Producers

question 48

Multiple Choice

Obstacles that make it difficult or impossible for additional producers to begin producing or selling in a new market are referred to as:

• A) Barriers to exit.
• B) Barriers to entry.
• C) Barriers to competition.
• D) Blockades to exit.

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Definitions:

Prison Sentence

The punishment assigned by a court, typically involving incarceration, for someone convicted of a crime.

Physically Attractive

The attribute of being appealing or pleasing in appearance to the sensory perceptions of others.

Alpha Level

The probability of incorrectly rejecting the null hypothesis that is used by a researcher to decide whether an outcome of a study is statistically significant (most commonly, researchers use a probability of .05).

Statistical Significance

Rejection of the null hypothesis when an outcome has a low probability of occurrence (usually .05 or less) if, in fact, the null hypothesis is correct.