Competitive Barriers Are Conditions That Make It Difficult for a Firm

question 44

True/False

Competitive barriers are conditions that make it difficult for a firm to compete in a market.

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Marginal Utility

The increase in contentment or advantage a person obtains by consuming another unit of a good or service.

Marginal Utility

The additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a product.