Barriers to Entry Do Not Occur When

question 89

Multiple Choice

Barriers to entry do not occur when:

• A)economies of scale in production exist in an industry.
• B)the government requires a professional license or franchise agreement.
• C)the firm that introduces a product is granted a patent.
• D)a firm controls a scarce resource.
• E)diseconomies of scale in production exist in an industry.

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Definitions:

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically in the context of parameters estimated from sample data.

F Statistic

A ratio used in analysis of variance (ANOVA) tests to determine whether the group means are statistically different from each other.

Interaction

In statistics, the way in which two or more variables are related in a non-additive manner when affecting a response variable.

Tension Modulus

The ratio of tensile stress to tensile strain in a material, reflecting its stiffness or elasticity under tension.