Examlex
What are the main constraints on managerial discretion?
Economies of Scale
Businesses enjoy cost savings resulting from their size of operations, wherein the cost per unit produced usually drops with greater scale.
Barriers to Entry
Obstacles that make it difficult for new competitors to enter a market, such as high startup costs, access to technology, and strict regulations.
Market Power
The ability of a firm or group of firms to influence or control prices or output in a particular market.
Barriers to Entry
are obstacles that make it difficult for new competitors to enter an industry, including high startup costs, strict regulations, and established brand loyalty.
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