Examlex
Why has the Internet made competitive rivalry more intense?
Entry Barriers
Obstacles that make it difficult for new competitors to enter a market, which may include high capital requirements, brand loyalty, or regulatory policies.
Marginal Costs
The cost of producing one additional unit of a good or service.
Profit-Maximizing
The process by which a company determines the price and output level that returns the greatest profit.
Long Run
A period in economics where all factors of production and costs are variable, allowing for full adjustment to changes.
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