Which of the Following Can Be a Barrier to Entry

question 336

Multiple Choice

Which of the following can be a barrier to entry, closing a market to new firms?

• A) an elastic industry demand curve
• B) control of a vital resource by one producer
• C) diseconomies of scale
• D) ease of obtaining capital financing

Understand the requirements for giving actual notice to terminate an agent's authority.

Learn the situations in which an agent can act on behalf of the principal and their liability in contracts.

Recognize the principle of ratification and its requirements.

Understand the principles of respondeat superior and the liability it imposes on employers.

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Definitions:

Inferring Environment

A process of deducing the natural conditions and surroundings of a specific area based on present and historical data.

Metamorphosed

Describes rock that has undergone transformation in structure or composition due to heat and pressure.

Interpret Relative Ages

The process of determining the chronological order of geological events or rock layers without necessarily determining their absolute age.

Crosscuts

Geological features that intersect other features, often used in the context of veins or faults cutting across different layers of rock.