Which of the Following Is an Example of a Barrier

question 614

Multiple Choice

Which of the following is an example of a barrier to entry? i) A key resource is owned by a single firm.
Ii) The costs of production make a single producer more efficient than a large number of producers.
Iii) The government has given the existing monopolist the exclusive right to produce the good.

• A) i) and ii) only
• B) ii) and iii) only
• C) i) only
• D) i), ii), and iii)

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Definitions:

Kava

A plant native to the Pacific Islands that's used to produce a drink with sedative, anesthetic, and euphoriant properties, traditionally consumed for its relaxing effects.

Cirrhosis

A chronic liver disease marked by scarring of liver tissue which can lead to liver failure.

Warfarin

A medication commonly used as an anticoagulant to prevent blood clots from forming or growing larger in the blood and blood vessels.

Fish Oil

An oil derived from the tissues of oily fish, rich in omega-3 fatty acids, beneficial for heart and mental health.